The Sorrento clifftop holiday home of late businessman Ron Walker – known as “Mr Melbourne” because of his extensive business and personal links in the country’s second-biggest city – has sold for just over $15 million to a local buyer.

Laguna, as Mr Walker’s family called the Mornington Peninsula bolthole, was put on sale in October with a price guide of $14.75-$15.95 million and sold “marginally in excess” of $15 million, said Kay & Burton agent Gerald Delany, who marketed the property with colleague Gowan Stubbings.