A grand double-fronted Victorian property has sold for a new Carlton house price record of more than $5 million.

The five-bedroom house at 68 Drummond Street is being used as office spaces, but is set to be converted into a family home.

The property, in a mixed-use zone and a short walk from Carlton Gardens and Lygon Street cafes and restaurants, sold earlier this month for an undisclosed price rumoured to be more than $5 million. It would be the highest priced house sale reported to the Domain Group in the suburb.

Sales data show the property ??? complete with a modern rooftop entertaining terrace and pond ??? last sold for $2.15 million in 2002.

The median house price in Carlton is $1,311,000.

RT Edgar Toorak's Oliver Booth was the selling agent, in conjunction with CBRE. He declined to comment on the sale price.

He did confirm the property sold to an owner-occupier, adding that there were about 15 offers received during the expressions of interest campaign.

The buyer was a family who had plans to restore the building ??? believed to be once a residence ??? into a home, Mr Booth said.

It follows a trend of home buyers who have similar plans to convert commercial residences across Melbourne.

In Brunswick, a former Victorian cottage turned printing factoring in Barkly Street sold for $1.2 million ??? over its reserve price of $970,000 on Saturday.

Five would-be buyers competed for the one-bedroom property, on 225-square metres, and it sold to a buyer who had plans to transform it to its former glory.