Matthies to sell flamboyant South Yarra mansion as development site
After spending five years, and a reported $25 million, amalgamating eight South Yarra sites, aged care developer John Matthies has decided to sell - his unique and enormous offering including the flamboyant mansion trashed at the end of 1993 movie, Romper Stomper.
The 7904 square metre offering, which climbs a hill between Alexandra Avenue and Kensington Road overlooking the Yarra River, is expected to trade for more than $40 million to a private apartment developer.
The listing may mean the end for a recently obtained and relatively small-scale redevelopment permit, which would have seen the site, with three street frontages, replaced with just 80 aged care units in a complex rising six levels.
This "six star" proposal by Mr Matthies, whose complexes target the prestige market, would also have included a golf simulator, 40-person cinema, gym, hairdresser and private dining rooms, exploiting the land's postcard CBD views over the river.
Designed by Bates Smart, the $100 million retirement village would have involved the demolition of the semi-circle Saint Cloud mansion, at 61 Kensington Road, which was when Mr Matthies bought it for $12 million in 2012, the largest private land holding in the prestigious suburb.
Offloaded by management consultant Peter Clark, the approximate 1000 square metre Saint Cloud featured prominently in Romper Stomper as it was robbed and trashed by some of the movie's main characters including Hando, played by Russell Crowe.
CBRE's Scott Orchard, Josh Rutman, Lewis Tong and Mark Wizel are marketing the supersite for Mr Matthies, who is also a South Yarra resident.
The listing comes after an 890 square metre site in prestigious Park Street, South Yarra, sold earlier this month for $12.5 million. Near the Royal Botanic Garden and in an area often cited as Melbourne's most exclusive, this transaction reflected a land rate of about $14,000 per square metre.
The story Matthies to sell flamboyant South Yarra mansion as development site first appeared on The Sydney Morning Herald.