Zagame matriarch slashes millions off luxury Sorrento beach house price

The Sorrento residence, complete with bathing box-style pool change rooms, has had its asking price revised down by more than $2m. The Sorrento beach house of Zagame hospitality family matriarch Toni Zagame has had a multimillion-dollar price cut as the Mornington Peninsula grapples with tough conditions. The Zagame business is now run by her sons Robert Anthony and Victor Jnr, named for her husband Victor Zagame who began the wealthy family’s enterprises with the Albion Charles Hotel in Northcote. The Zagames are now known for their chain of family-friendly pubs and holiday resorts. RELATED: Toni Zagame lists $10m Sorrento compound with backyard beach boxes Gary Ablett Jr lists former Jan Juc home after upgrading to acreage Richlister Danny Wallis snaps up failed Block homes at big discount After hitting the market early this year with a $7.3m-$8m asking price, Ms Zagame’s Sorrento home is now being advertised at $5m-$5.5m. The four-bedroom, four-bathroom house could also be joined by a neighbouring cottage, also now at a discount, at the rear for a package deal. While built in the 1990s, its architecture is designed to reflect the Sorrento tower houses that helped shape the subur...