9 Kenley Court, Toorak was on the market for a four week expressions of interest campaign before it was sold at a record land rate by RT Edgar's Max Ruttner and Jeremy Fox.

Source: RT Edgar

RT Edgar's Max Ruttner told LUXURY LIST, "We had 41 buyers through the property, with the numbers skewed towards international buyers."

"We were seeking offers with a price guide of $14,000,000 - $15,300,000 and the property sold very close to the top end of the range", he said.

Source: RT Edgar

The land rate was just under $20,000/sqm, which set a record land rate for the court with the last sale (just over 12 months ago) achieving around $16,500/sqm.

Ruttner said that the record land rate reflects the growth in Toorak over the past 12 months, "despite rising interest rates and outside noise, quality homes and land are still selling for strong prices."

Because of its exclusivity there is a lot of competition to purchase in Kenley Court as it is regarded as one of, if not the best in Toorak.

 "It is desired by many to live in this street. The residents are successful in both business and personal aspects and therefore the opportunity to own in this court captured the markets attention" Ruttner explained.

Source: RT Edgar

Designed by Emma Tulloch Architects, the six bedroom family home is modern, sophisticated and idyllic. The generous two master ensuites particularly appealed to the final purchaser.

Three formal offers were received for the property, two were from local buyers while the ultimate purchaser was an international buyer from Europe.

Ruttner told LUXURY LIST, "I received a phone call from a random international number, I answered immediately, we went back and forth for 60 minutes on the initial phone call.

A week later, they flew down from Europe and within one week of arrival contracts where exchanged in our boardroom.

A happy buyer and a happy seller."

"It’s clear the international buyer market is ahead of the local market in purchasing power. 

Our team is dealing with many expat buyers returning home from America, Europe and Asia and who are wanting to deploy capital into the Stonnington market." Ruttner concluded.

To discuss marketing or purchasing similar property phone or email Max Ruttner of RT Edgar or Jeremy Fox of RT Edgar via the contact form below.

For more information or to view listing, click here.

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