Myer family’s iconic Toorak mansion Cranlana hits market and is set to become $100 million record-breaker

One of Melbourne’s most iconic properties, Cranlana, the grand Toorak estate owned by the Myer family for more than a century, is now up for sale.

With a price guide between $96 million and $105 million, the estate is set to break real estate records, potentially becoming the city’s first $100 million home.

Cranlana, located at 62 Clendon Road, Toorak, has been kept private for years, and its listing marks the end of an era for one of Australia’s most influential families.

The Myer family has been closely tied to Cranlana since the early 20th century.

Sidney Myer, the founder of the iconic department store empire, bought the estate after building his fortune from humble beginnings, and it has remained in the family ever since.

The Sidney Myer legacy: The story behind the listing

In 1899, a 21-year-old Russian immigrant named Simcha Baevski arrived in Melbourne, hoping to create a new life. He changed his name to Sidney Myer and began his career by opening a small drapery store in Bendigo, Victoria. Through sheer determination and entrepreneurial spirit, Myer built a retail empire, acquiring a Bourke Street business in 1911, which would become the world-renowned Myer Emporium.

By 1920, Myer had married Margery Merlyn Baillieu, a member of one of Melbourne’s most prominent families. Soon after, he set his sights on acquiring a grand Toorak residence. That year, he purchased a property known as Torrie, located at 62 Clendon Road, which he later renamed Cranlana.

The home became a cornerstone of Melbourne’s social scene and the beloved residence of the Myer family for generations.

When Myer passed away unexpectedly in 1934, his widow Merlyn took over the management of Cranlana. For decades, she ensured the estate remained the cherished family home, while also preserving its historic and cultural significance. Dame Merlyn Myer remained the custodian of Cranlana until her death in 1982, at which point the next generation of the Myer family stepped in to continue the legacy.

An estate steeped in grandeur and history

Built around 1900, Cranlana occupies more than 11,000 sqm of prime Toorak land, making it the largest private holding in the area. The estate’s grandeur and charm are reflected in its architectural beauty and sprawling, meticulously maintained gardens. The property is spread across two titles, and its combination of historic architecture and botanic splendour offers a glimpse into Melbourne’s past, while providing modern luxury.

A long circular driveway leads to the grand entrance, behind high stone walls and ornate wrought-iron gates.

Inside, the home is filled with timeless elegance: a marble-floored foyer, several reception rooms with soaring ceilings, a ballroom with timber panelling, and a library that overlooks the estate’s magnificent gardens.

Multiple fireplaces, rich architectural details, and the expansive, flowing layout create a space that is both opulent and welcoming.

The main house boasts six bedrooms, including several guest suites, and two fully self-contained apartments. Designed for grand-scale living and entertaining, Cranlana offers the kind of space and privacy rarely found so close to Melbourne’s city centre.

Cranlana’s gardens are one of the estate’s standout features. Designed by renowned architect Harold Desbrowe Annear in 1934, the grounds are widely regarded as some of the finest in Victoria. The garden, spread across a vast expanse of formal lawns and century-old trees, offers a sense of serene privacy and is designed to be enjoyed in every season.

A sunken garden, complete with a tranquil pond and central fountain, adds to the European estate feel of the grounds. Behind a 100-year-old wisteria hedge lies a north-south grass tennis court, along with a picturesque swimming pool and accompanying pool house.

Other outbuildings on the property include a self-contained cottage and former stables that speak to the estate’s long and varied history.

A record-breaking sale on the horizon

If Cranlana is sold within the guide price, it will likely smash the city’s real estate records, potentially becoming the first $100 million home in Melbourne. The current state record stands at $80 million, set in 2021 by cryptocurrency casino entrepreneur Ed Craven for a derelict mansion on St George’s Road, Toorak.

For over a century, the estate has been a place that represents the Myer family’s lasting legacy in the city. The Myer name is synonymous with Melbourne’s retail history, but their influence extends far beyond, as they’ve made significant contributions to the cultural and charitable landscape.

The sale of Cranlana offers a rare opportunity to own a piece of Melbourne’s history. For the first time in over 100 years, the estate is open to buyers, giving them a chance to take over the stewardship of one of the city’s most storied homes.

Whether Cranlana reaches the $100 million mark or not, its sale is set to become a defining moment in Melbourne’s property market. The next chapter of this historic estate will be written by a new owner, but its place as one of the city’s most significant properties is already firmly established.

The property is being sold by Marshall White Director, Marcus Chimenello who was not immediately available to comment. Transaction advisers are Charter Keck Cramer’s Scott Keck, Tom Byrnes and Patrick McNulty.