Toorak gems on display as records tumble with Sam Gance’s $43m swoop

The sale of a big-ticket mansion presages more activity in Melbourne’s luxury property market.

This Lansell Rd, Toorak, mansion comes with a resort-style pool, a cinema, a gym and an on-site wellness retreat.

There was little surprise when the blue-chip suburb of Toorak locked in its status at the helm of Melbourne’s residential real ­estate market this week with a ­record-breaking sale of an opulent home.

But the $43m price paid for the mansion picked up by My Chemist Retail Group co-founder Sam Gance rocked even those close to the sale after it was driven up by fierce bidding in a two-party private auction.

The purchase by Mr Gance, the partner of Real Housewives of Melbourne star Janet Roach (famed for lighting up Melbourne’s social scene), won headlines but the real impact will come as property across the wealthy suburb is rerated.

The Lansell Rd spread, which was sold by international businessman Mark Healey and wife Kelly, went at the top end of their $40m-$44m asking range.

This success is a sign that more homes could trade at a premium as buyers – many of whom will not be affected by regulatory crackdowns on property debt as they do not borrow – race for positions.

The initial winner is Mr Healey, the son of British billionaire Eddie Healey, who ensured the home wanted for nothing. It sports seven living areas, three kitchens, a teppanyaki grill and an on-site wellness retreat.

The mansion was sold by Marshall White Stonnington director Marcus Chiminello and Kay & Burton’s Michael Gibson after an offer of less than $40m sparked the private auction.

Mr Gance’s new home is a five-bedroom abode, which also boasts a resort-style pool, a cinema, a gym and a tennis court on the oversized 3330sq m block.

The Lansell Rd spread, which was sold by international businessman Mark Healey and wife Kelly, went at the top end of their $40m-$44m asking range.

The purchase comes a year after his My Chemist Retail co-owner Mario Verrocchi bought Mount Eliza’s famed Morning Star estate, which had an asking price of about $40m.

Mr Gibson said people who have substantial wealth are looking for the best lifestyle, whether in the city or outside.

“At the upper end of the market we are seeing an unprecedented number of local buyers,” Mr Gibson said.

“It’s not just old money either, it’s successful young people who are looking seriously.”

He pointed to the depth of demand. “Lansell Road was a one-off sale. But if I had another two today, I could sell them both.

“Undoubtedly, Melburnians live in the best city in the country and that has not been on display at the moment. But they will be drawn back as they always have.”

Mr Chiminello said there was an insatiable appetite for prestige property in the Victorian capital despite the city’s lockdowns. The most persistent issue has been lack of stock as cooped-up buyers have swooped on almost any mansions that have come on to the market, he said.

“There has been more prestige sales in Toorak and its surrounds in the past six months than there has been in eight years,” Mr Chiminello added.

Other big-ticket sales include top music promoter Michael Coppel selling his Toorak home for more than $30m.

The chairman of Live Nation Australasia offloaded his Hopetoun Rd mansion earlier this month, also via Mr Chiminello.

That six-bedroom, seven-bathroom estate on a 3066sq m block drew global interest and its sale could mark the return of international buyers after a law firm representing offshore clients placed a caveat on the property.

Mr Chiminello said the latest once-in-a-generation Toorak sale showed just how much prestige buyers were valuing the unique opportunities to buy in the wake of the pandemic.

“In this market, buyers recognise these opportunities may pass by if they don’t pay some sort of premium. For them, that is more valuable than money,” he said.

Andrew McCann, the managing director of real estate agents Jellis Craig, Stonnington, said the price achieved for such a property came as “no surprise”.

“That property in itself is a once-in-a-generation-type offering and it’s no surprise we saw demand. The price point is what it is always going to be,” Mr McCann said. “People are starting to fall in love again with Melbourne and they want to upgrade and are after luxury.”

After more than a year of lockdown misery Melbourne’s best mansions are ready to shine again.