Private Residence
By 2006 the campus became surplus to Deakin University's requirements, and was placed up for sale. This created a protest from local residents, who believed the property should be retained by a government body. In December 2006, the three-hectare property was sold for $33 million to a joint venture between Hamton Property Group and Industry Superannuation Property Trust.
In June 2007, businessman and former President of the Liberal Party in Victoria, Michael Kroger, announced that he and other Australian businessmen, a group dubbed the "Melbourne Lodgers", would examine properties in Melbourne for the Prime Minister of Australia to use as a residence while in that city. Kroger stated that Stonington was the most sought-after residence on that list.
In August 2007 the 1.3-hectare site, comprising the mansion, gatehouse and 3 acres (12,000 m2), were conditionally sold to art dealer Rodney Menzies for about $18 million, as a private residence.
In June 2008 the remaining 1.7-hectare garden site was acquired for $45 million by Sydney-based developer and fund manager Ashington, who announced a $150 million project called Stonington Malvern, a 75-dwelling development in four precincts, comprising 31 terrace houses, 18 townhomes, 14 apartments and 12 maisonettes. In March 2009 the mansion's former stables, and until September 2007 Deakin University's Stonington Stables Museum of Art, were sold separately by Ashington for about $4 million.
Read more about this topic: Stonington Mansion
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