Former Financial Review Young Rich Lister Guy King sold his sprawling Toorak mansion for more than $30 million to a local Melbourne family as the city’s prestige housing market fires on all cylinders.

Mr King, who co-founded discount coupon website, RetailMeNot.com which he sold for $90 million in 2010, put his family home at 61-63 Grange Road up for sale in February as he and his wife Liz look to downsize.