Third time lucky for $50m Melbourne mansion listing
Businessman Alan Ali will be hoping a supposed rise in buyer sentiment in the second half of last year will move Canterbury’s historic Shrublands on his third attempt.
The trophy mansion on 6501 square metres at 16 Balwyn Road was relisted this week asking $48.8 million.
Mr Ali paid $29m in the first lockdown, four years ago – against an initial $42m-$46m guide.
He also acquired a neighbouring ex-nursing home (14 Balwyn Rd), incorporating another historic home, Enniskillen, and spreading a 3745 sqm site, for just over $8m.
The lot is being offered now; Marshall White’s Justin Long and Doug McLauchlan are the agents.
The listing comes a month since we reported The Connault in neighbouring Balwyn sold for $14.85m between aged care providers.
Third time lucky
The 14 Balwyn Rd properties are unrenovated (story continues below).
The Italianate Shrublands by comparison was the subject of a painstaking and multi-year renovation and extension by Michael and Anne Williams, who sold it to Mr Ali.
Developed in 1863, it contains two kitchens, 12 bathrooms and a mini conference centre with office and boardroom.
There is an eight car garage too.
Mr Ali tried to sell Shrublands last March, the guide was $37-$39m.
It was taken down after 112 days.
Another campaign was undertaken, again for 16 Balwyn Rd only, in September, 2022.
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