Developer lists $88m Toorak pile
V-Leader founder Andy Zhang and his wife, Miaomiao, have listed adjoining sites in Toorak’s tree-lined Lansell Road after abandoning plans to build a single home.
The pair are expecting $80-$88 million for the 6336 square metre amalgamation, which could sell to a townhouse or residential developer.
They acquired it in two parts – #38A, Illogan, cost $17m in 2015.
On 4367 sqm, it contains a six bedroom dwelling with a grand ballroom able to seat 200 for dinner.
Former owners include Sir Donald and Lady Norma Trescowthick, who after building and living there 12 years rented it in 1993 to Bob Jane.
The property made headlines shortly after that rental agreement was struck, when Mr Jane, who reportedly spent $185,000 on custom furniture, successfully blocked the vendors selling it but they did in late 1994.
The second Zhang property – 38 Lansell Rd – on 1969 sqm, cost $22m in late 2021.
Former owners include business identities Peter and Julie Scanlon and before that, Barry and Sandra Smorgon.
Kay & Burton’s Ross Savas, Jamie Mi and Nick Kenyon are the agents.
Another Toorak megasite
The Zhangs will relocate to an established dwelling.
The listing comes four months since we reported Vicland founder Bill McNee was outlaying $50m for the former family home of late Marc and Eva Besen, at the corner of Lansell and Tahara roads.
A new build is rumoured.
Two years ago meanwhile, Gary Singer and Geoffrey Smith paid $20m for Darnlee at 33 Lansell Rd.
On 3587 sqm, the c1889 Queen Anne was divested by BlueCross which extended it in 1993 for an aged care home.
The Red Cross and before that, pastoralist John Winter-Irving and Blake & Riggall co-founder, Harold Riggall, also once owned it.
In February, Paul Little and his wife, Jane Hansen, sold Coonac, on c1.1 hectares in Clendon Road, to Denis Bastas, for c$130m.
Also in the suburb, Message Media founder Grant Rule in late 2022 paid $74.5m for Blair House, covering 7843 sqm on St Georges Rd, presently undergoing a major renovation.
The Myer family has also been trying to sell Cranlana, on over a hectare in the suburb, a year next week.
V-Leader is behind commercial and residential projects with major sites in the CBD and Collingwood.
It recently repurposed and extended a historic hotel at 189 Toorak Rd, South Yarra, as an office and retail investment.
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