Buyers drop $4.6m at secret Aberfeldie mansion auction

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The 1896 Weirton estate at 12 Aberfeldie St, Aberfeldie, sold for $4.675m at a private midweek auction after five buyers registered to bid.

Five buyers have battled behind closed doors for a historic Melbourne mansion, dropping $4.675m at a private midweek auction.

The 1896 Victorian home at 12 Aberfeldie St, Aberfeldie, known as Weirton, sold under the hammer in what was Melbourne’s top reported auction sale of the week.

The five-bedroom estate was offered through Jellis Craig Moonee Valley agents John Morello and Christian Lonzi, with registered buyers competing at the property rather than at a public Saturday auction.
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Mr Lonzi said the result showed buyers at the top end were still prepared to spend big on standout family homes, even as negative sentiment weighed on parts of the Victorian property market.

“It has been absolutely relentless,” Mr Lonzi said.

“Government policy after government policy has come in and absolutely smashed market sentiment.

“However, in my area, Moonee Valley, Essendon, Moonee Ponds and Aberfeldie, I find that we will still stay quite strong.

“I’m not going to say we won’t be affected at all, but provided there’s not too much stock in the market, the good properties keep moving.

“The sentiment has probably dried up the stock a little bit, which then helps the stock that is on the market.”

The historic Aberfeldie home blends Victorian-era grandeur with later family-focused additions across a 1485sq m block.

Mr Lonzi said there had also been a shift at the upper end, with some buyers choosing to put more money into the family home instead of other investments.

“I do still feel like there is a bit of a shift towards these higher-end homes,” he said.

“There’s not really anywhere else to put your money at the moment, so people are putting it towards their family home, upgrading or renovating.”

Set on 1485sq m, Weirton includes lead-light windows, ornate plasterwork, high ceilings, formal lounge and dining rooms, a pool, studio, dual driveways and leafy grounds.

The listing described the house as a Victorian masterpiece, with a marble ensuite, granite kitchen benchtops, marble-mantle fireplaces and a pool house or studio at the rear.

The five-bedroom home includes period-inspired bathrooms, with the main bedroom also featuring a marble ensuite.

Leafy grounds, high boundaries, a pool and entertaining area helped give the Aberfeldie estate its secluded family-home appeal.

Mr Lonzi said the private auction had created a strong sense of theatre, despite being limited to registered buyers.

“It was a really nice intimate auction,” he said.

“There were five registered bidders and a few neighbours showed up because they wanted to come and have a look.

“The opportunity there was not something that comes up very often.”

The home’s bathrooms continue the period character seen throughout the 1896 residence.

The formal dining room was among the grand spaces agents said helped buyers see the home as a long-term family estate.

Mr Lonzi said Mr Morello, who called the auction, had reminded bidders they were competing for a home that could not simply be recreated by buying land and building new.

He said buyers could purchase a big block and build a house, but it would “never be this”.

“You can still do your extensions on the back and your beautiful big modern extension, but it will always appreciate for what it is,” Mr Lonzi said.

The home had been held by one family for many years before being sold to younger buyers expected to begin its next chapter.

“It was one of those generational homes,” Mr Lonzi said.

“It had been in a family for so many years and was beautiful to see another family take on the mantle of the property, with a younger family.

“I wouldn’t be surprised if it’s in the family for 40-plus years as well.”