One of the most expensive homes to come on the market in Victoria is an intriguing $50 million time capsule.
The bayside Melbourne mansion named Teychel was last renovated the 1970s and is faithful to the era, according to the listing agency Kay & Burton, although the mega listing is shrouded in mystery as interior photos are yet to be revealed.
It is expected that the purchaser of 16 Moule Avenue, Brighton, who may come from overseas, will completely remodel the retro-era mansion or build a trophy home in one of Melbourne's most salubrious suburbs. It will land in the stratosphere of the market with a price guide of $46 million to $50 million.
Images of the inside have not yet been shared by the agents, with the listing to go live for buyers - with extremely deep pockets - next week.
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The record house price for Victoria is the $88 million paid this year by 26-year-old cryptocurrency casino founder Ed Craven for a half-finished Toorak manor, dubbed a "ghost house" for laying vacant for many years.
The transaction for 29-31 St Georges Road, Toorak, was also the third highest property sale in Australia and shattered the previous $52.5 million Victorian benchmark.
On Brighton's so-called Golden Mile, a waterfront playground for the well-to-do where houses are tightly held for generations, 16 Moule Avenue has had only two owners in 100 years and has not been on the market since 1971.
Flourishes include ornate mantlepieces, decorative wallpaper, marble in the en suite and a "reception hall" that unfolds to a sitting room which has a French style.
Kay & Burton managing director Ross Savas is looking after the listing, which will be marketed Australia-wide and internationally through an expressions of interest campaign.
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"Teychel is the most significant property to be offered for sale in the bayside market in the past 50 years," Mr Savas said in a statement on Monday.
"The local and national market will no doubt be keeping a close eye on this landmark offering, but it will undoubtedly attract extensive interest from across the globe due to its significance and absolute beachfront position.
"With the Australian dollar at its current level, the international market will see a lot of value in securing a generational family compound on such a substantial landholding."
The beachfront address was regarded as one of Melbourne's best when it last traded five decades ago.
"When the property was last sold in the 70s, the media described it as 'undoubtedly one of the best blocks in Melbourne' and that statement holds true to this day," Mr Savas said.
"Melbourne's prestige property market is tightly held with few properties of this scale coming to market. An estate of this significance being offered for sale shows the strength and resilience of our market."
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