Today, the median price for a three-bedroom Melbourne house is $925,000, less than its all-time peak of $1,133,000 (circa late 2021). So it might come as a surprise to learn the three-bedroom home at 16 Moule Avenue, Brighton has just been listed with an eye-watering price guide of between $45 million and $50 million; proving once again that when it comes to real estate, it really is all about location, location, location.
Situated in Brighton’s Golden Mile, the property in question – known as Teychel – offers uninterrupted views of Port Philip Bay and a palatial land size of 4,577 m². It’s quite a desirable location given Brighton ranks fourth on the list of Melbourne’s most expensive suburbs behind Toorak, Canterburry and Kooyong. Combined with beach frontage and the sheer size of the block, this property is likely to double Brighton’s current price record of $25 million, which was set just a couple of months ago.
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Over the century-long history of Teychel, it’s only changed hands twice. The most recent occasion being back in 1971 when the property was sold to Melbourne developer Bruce Terry for a measly $205,000. This fella was a well-known Rolls-Royce collector for many decades and also owned another property on the other side of Moule Avenue where he kept his collection of cars. Terry passed away suddenly in 2008.
Turning our focus back to 16 Moule Avenue, Brighton, the elongated property features a snaking driveway through its verdant front gardens, which are resplendent with trees that provide shade over the competition-sized grass tennis court.
At the rear of the property is another magnificent garden, the centrepiece of which is a heated pool and rolling lawns that make their way down toward the sands of Brighton Beach. The back garden also contains a number of towering trees used by boats as a landmark to navigate the residential coastline.
The main residence contains three bedrooms and three bathrooms in addition to a separate guesthouse for visitors and a garage that provides cover for eight cars. While images detailing the interior of the home are yet to be released, it apparently possesses a distinctly French flair with Chantilly parquet flooring in the foyer of the single story residence and timber panelling in the living room. Said living room opens up with double doors onto the terrace that surrounds the pool.
Given the upper segment of Melbourne’s property market weathering interest rate headwinds better than much of the rest of the market, such a significant home is likely to attract interested buyers from around Australia and beyond. The buildings on the enormous Brighton block are not heritage protected, meaning the new owner is expected to knock this down to erect a brand new home overlooking the waterfront.
Recently listed by the team at Kay & Burton, 16 Moule Avenue, Brighton is currently seeking expressions of interest with a price guide of between $45 million and $50 million.
