6 Wrights Close, Sorrento, has been sold from the wealthy Terry family estate.
The estate of ultra-wealthy apartment flipper and car collector Bruce Terry has offloaded another of the late millionaires properties — an about $8.5m Sorrento getaway.
But his former Brighton mansion, listed with an almost $44m asking price and that had been poised to set a new suburb record after a sky-high offer earlier this year, is still stuck in limbo with a prominent buyer’s advocate now saying it’s overpriced.
Before his passing in 2008 Mr Terry was known for his more than 100-vehicle car collection covering rare Rolls Royce’s, Ferrari’s and Jaguar’s.
RELATED: Brighton landmark home poised to double price record with $50m price tag
Late ad guru and philanthropist Harold Mitchell’s two-storey Melbourne CBD unit for sale
Tiny South Yarra block of land smaller than a cinema screen listed for $1.2m+
He also made significant money with the system that has made The Block a hit TV show — buying up entire apartment buildings, refurbishing them and selling them for a profit.
His former Brighton home at 16-18 Moule Ave, known as Teychel, has been on the market since 2022, following the passing of his wife Judith, with industry sources revealing a seeming sale of the home made in December last year is still in “due diligence”.
Brighton locals recall Mr Terry as a “rogue” a “good bloke” and a “colourful character”, known as a monarchist who drove about the suburb with the license plate UK222 — despite being Australia born.
![16 Moule Ave, Brighton - for herald sun real estate](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
16 Moule Ave, Brighton, was Mr Bruce’s family home before he passed.
The illustrious address has been seeking a buyer since 2022.
Industry sources said one of the first properties sold from his estate was a Brighton garage site used to house his car collection.
But the most recent was a former Sorrento getaway at 6 Wrights Close, which industry sources said had been owned by the late millionaire and sold last month for about $8.5m.
RT Edgar’s Jeremy Fox had the home listed for sale for $8.5m-$9m prior to it transacting on May 19, but would not discuss a price or ownership of the home.
Mr Fox did confirm he had executed the sale for the impressive “house looking over the water”.
The Cape Cod-style residence features four-bedrooms an enviable clifftop location with big water views and is surrounded by Paul Bangay gardens.
6 Wrights Close, Sorrento, has a charming facade that suits its coastal location.
The home embraces Cape Cod-style design inside and out.
Meanwhile, the Terry estate’s landmark mansion on Moule Ave, Brighton, remains for sale.
Industry sources have indicated a high-priced offer was made for the home, but featured a significant number of clauses and still remains in due diligence.
Top-end buyer’s agent David Morrell said if the deal wasn’t done and the home hadn’t sold after hitting the open market in 2022 “you have got to question the price”.
The guide for the property’s quoted range has already been reduced once from $46m-$50m to today’s $39.9m-$43.89m guide.
“They reduced it, but they still haven’t got it right,” Mr Morrell said.
Kay & Burton managing director Ross Savas is handling the listing and while he would not discuss any offers made for the home, said the “luxury property market has thrived in 2024” thanks in part to international buyers.
Coastal vibes are a key part of the Sorrento home’s charm.
But the water view might be even better from the Terry family’s Moule Ave address.
“The strong Australian dollar, relative to the US dollar and Euro, has been a significant factor,” Mr Savas said.
“We continue to see unprecedented interest from buyers in China, the US, Europe, and the UK. These buyers are attracted to Australia’s lifestyle offerings and have the capital to invest, making our high-end market exceptionally appealing.”
Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox.
MORE: AFL star Lance ‘Buddy’ Franklin and wife Jesinta selling Gold Coast mansion
The Block stars ditch ‘sumptuous’ project
A ‘Bloody Ripper’: Lilydale ‘Thunderbirds’ home has skate ramp and recording studio