Chemist Warehouse co-founder spends $80m on neighbouring knockdowns
Chemist Warehouse co-founder, Jack Gance, and his wife, Evelynne, have bought neighbouring knockdowns in one of Melbourne’s most exclusive streets.
The 6336 sqm Lansell Road, Toorak, amalgamation is speculated to be costing just over $80 million.
The seller is V-Leader founder Andy Zhang and his wife, Miaomiao, who paid $39m in two parts – the first in 2015, for $17m, the other, in 2021.
The holding, one of the largest in the suburb, was expected to make way for a large single dwelling.
It is understood the Gances will now go down that track.
Kay & Burton’s Ross Savas, Jamie Mi and Nick Kenyon were the agents.
The deal comes four years since Jack’s brother, Sam, outlaid $43m for a contemporary Lansell Rd, Toorak, dwelling, on 3300 sqm.
In May meanwhile, we reported developer Bill McNee was paying $50m for the 6336 sqm estate of Marc and Eva Besen in the street, on the north east corner of Tahara Rd, also with plans for a new build.
Another Toorak supersite
The largest Jack Gance site, Illogan, on 4367 sqm, was once owned by Sir Donald and Lady Norma Trescowthick.
The smaller property was formerly held by Peter and Julie Scanlon and before that, Barry and Sandra Smorgon.
The on sale comes six years since other Gance family members paid $30m for neighbouring knockdowns covering 4260 sqm in Yar Orrong Rd, Toorak.
In 2022 meanwhile, another Chemist Warehouse co-founder, Mario Verrocchi, outlaid $6.25m for rundown dwelling on 796 sqm in McMaster Court, to extend his neighbouring family home on 5468 sqm, bought for c$19.2m from the Smorgon family in 2014.
Other Verrocchi family members are also planning a single dwelling on six home and townhouse sites in the suburb, acquired over several years for a total $22.8m.
In 2023 however, Mario’s brother, Marcello, bought a renovated mansion, Hawthorn East’s landmark Ellerslie, outlaying $20m.
That seller was the family of late race car driver and Autobarn founder, Garry Dumbrell.
Chemist Warehouse recently merged with Sigma Healthcare with its executives in August selling shares to the tune of $729m.
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