3650 Frankston-Flinders Road, Merricks has been put on the market by The Gandel family.
The ultra-wealthy Gandel family who are behind Chadstone Shopping Centre have listed a Merricks acreage with a $4.1m asking price.
Property and company records show John and Pauline Gandel purchased the acreage under the company name Mornview Pty Ltd in 2003 for $3.8m.
The firm also listed Deloitte Australia board member Peter Pagonis as a member.
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Mr Gandel is known for inheriting his family’s corsetry business, then named Sussan, with his brother in the 1950s and growing it into a chain of more than 200 stores.
In 1983, he purchased Chadstone Shopping Centre for $37m and developed it into the nation’s biggest shopping mall which is now worth about $3bn.
His family is now one of Australia’s wealthiest.
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Pauline and John Gandel at the State Library of Victoria’s Under the Night Sky Vision 2020 cocktail party. Picture: FIONA BYRNE/SUPPLIED
Ms Gandel AC is a prolific philanthropist who was made a Companion of the Order of Australia in 2019 for her charity efforts as well as promoting Australia-Japan relations.
Now, the pair are offloading the acreage ‘Ashmere’ at 3650 Frankston-Flinders Rd with $4.1m price hopes.
Spanning 7.69ha, the property features a three-bedroom farmhouse built in the 1930s, eight paddocks, two dams, an olive grove, a small orchard, sheds and a 100-year-old oak tree.
While Kay & Burton Flinders executive director Tom Barr Smith declined to comment on the property’s owners, he said it had a lovely cottage surrounded by established trees, and offered a great opportunity for the next purchaser to revamp it.
“It’s a pretty great starting point,” Mr Barr Smith said.
“There’s lots of really good vacant blocks of land but they don’t have the advantage of something like this.”
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3650 Frankston-Flinders Rd, Merricks is listed with a $4.1m price tag.
The cottage has high ceilings, a fireplace, wide verandas, iron lacework and original windows.
Inside, there are two living spaces and a dining room as well as the kitchen fitted with timber cabinetry.
Sliding glass doors open to a deck set beneath a pergola, with views out to pastures and established gardens.
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sarah.petty@news.com.au
