The historic 1.1-hectare mansion owned by the Myer family is set to hit the market in October.
Key Takeaways
- The historic mansion, named Cranlana, is located at 62-62A Clendon Road in the prestigious Toorak suburb in Melbourne.
- Cranlana is set to be offered to the market next month by Myer Family Investments (MFI), the Myer family’s private investment company.
- Whilst an asking price has yet to be disclosed, the Melbourne property is expected to surpass the $100 million mark, the first to do so in the city’s history.
- The sale will be overseen by Marcus Chiminello from Melbourne-based real estate agency, Marshall White.
- Cranlana’s sale will mark an end to the Myer family’s century-long ownership of the iconic property.
Crucial Quote
“With over 100 years of family ownership, and with our 5th generation expanding, the time has come to pass the keys of our home and its magnificent garden to a new owner and custodian,” MFI Chairman Sidney Myer AM, grandson of the Myer founder, told realestate.com.au.
Key Background
Cranlana has been in the hands of the Myer family for over a century. Purchased by Sidney Myer in 1921, the mansion served as the family home to the retail magnate and his wife, Merlyn, until her passing in 1982.
The mansion has since been transformed into the home of the Cranlana Centre for Ethical Leadership, and continues to host family gatherings and philanthropic events.
Related
Big Number
$100 million: The price Cranlana is expected to be sold for.
Tangent
The anticipated listing of Cranlana follows the sale of several other high-profile properties located in Melbourne’s prestigious Toorak suburb, including crypto-billionaire Ed Craven’s record-breaking $80 million purchase of his ‘trophy home’ last year.
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