Aussie mansion sells for $40m - but what that bought may surprise you
The sale of Toorak's most expensive house has just been settled and 7 News has been given exclusive access to the property, which has been closed off to the public eye for 20 years.
The Hong Kong-based buyer, a medical professional, forked out $40 million to take ownership of the mansion, but what he got for his money may surprise you.
For that amount, you'd be within your rights to expect pristine gardens, a sparkling pool and super-modern appliances.
Instead, the new owner has inherited a dirty pool, fire-ravaged rooms and a house that needs some serious TLC.
The home has been vacant for four years after a fire, caused by a cleaner dropping hot coals into a wheelie bin, destroyed the back half of the property.
The prior owners, Marina and Anthony Darling, moved out, leaving the property at 18 St George's Road in an "as is" condition.
Even RT Edgar director Oliver Booth, who sold the mansion, described the house as "eerie" and "kind of spooky".
The new owner has given assurances that the front half of the home will be renovated, rather than being knocked down.
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However, the section burned by the fire is beyond repair and will need to be demolished.
Apart from $40 million for the property, Mr Booth says the buyer will also pay around $12 million in stamp duties and foreign taxes.
The renovation and extension will cost around $10 to $12 million, so in total the cost is closer to about $70 million.
The property was bought 23 years ago for a relatively modest $4.9 million, but the $40 million sale - dirty pool and broken windows included - now makes it the most expensive property in Toorak.
