12 Todman Ave, Kensington is set to go under the hammer on August 11.
A landmark estate owned by Australian art royalty has come to market in a move that could see Kensington achieve a new suburb price record.
The vast 2557sq m block at 12 Todman Ave is home to a grand heritage building that was bought by Menzies Management Services in 2000 for $2.95m.
While the company ran its contract cleaning business from the period property, the address is best known as the Sydney headquarters of Menzies Art Brands.
Over the past quarter century millions of dollars of fine art and memorabilia has sold at auction on the premises.
Now the building itself will go under the hammer on August 11.
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Agent Peter Anderson of Anderson Real Estate says the building could have a range of uses.
“You could turn it into a mansion if you really wanted to. Some locals already call it Kensington Palace,” Anderson says.
“We’re expecting it to sell in the double-digits, but how far into those numbers remains to be seen,” said listing agent Peter Anderson of Peter Anderson Real Estate.
Given the property’s unique size and multipurpose usage, Anderson said it would be difficult to price prior to initial inspections and feedback.
According to title records, the highest price achieved for a multi-use amalgamated site in Kensington was set in 2024 when 153-157 Anzac Parade sold for $20m.
Cameron Menzies, principal of the Menzies Group and son of Rod Menzies who built the powerhouse Menzies Art Brands has decided to shift the company’s focus to Melbourne.
“It’s simply now surplus to their needs,” Anderson said the building could have a variety of uses.
Over the past quarter of a century, billions of dollars worth of art and memorabilia has been sold at auction at the premises.
The owners have kept it in a superb state.
“It’s an absolute one-off because it’s pretty unusual to get this blend of usages. The property has been approved for use as a medical facility, or you could run a business on the ground floor and live upstairs. There are so many opportunities. You could turn it into a mansion if you really wanted to. Some locals already call it Kensington Palace,” Anderson added.
“It really is in mint condition. The owners have kept it in an absolutely superb state, even down to the gravel driveway.”
Designed by architects Joseland and Gilling around 1926 as the administration building of British tobacco manufacturer, WD and HO Wills, the facade features classical columns, arched windows and signature cupola.
It’s located opposite Raleigh Park.
In total there is more than 1000sq m of internal space across three levels, including a large basement, a vast boardroom, and three original walk-in safes.
Additional features include a grand private carpark accommodating at least 21 cars, plus the communal use of tennis court and swimming pool with barbecue facilities at the Raleigh Estate.
Opposite Raleigh Park and within walking distance of Kensington Public School, East Village shopping centre, and Moore Park Supa Centre.
DETAILS
For sale: August 11
Inspect: By appointment
Price guide: $15m
Agent: Peter Anderson Real Estate
Contact: Peter Anderson on 0412 281 133
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