David Prior divests Toorak pile

Karum spreads 2995 square metres on St Georges Road.

Five: Am founder David Prior and his wife, Sallie, have sold Toorak’s Karum, five months after it hit the market.

The result for the c1914 dwelling on 2995 square metres at 14 St Georges Road – $40 million according to sources – was against a $46-$50m guide.

The pair paid restaurateur Chris Lucas $23.3m in September, 2014, later undertaking a refurbishment.

That seller had not long moved into a modern mansion in nearby Towers Road, with partner, Sarah Lew.

Kay & Burton’s Ross Savas acted for the Priors; the buyer is believed to be a local (story continues below).

Mr Prior sold the organic yoghurt business he created to UK’s PZ Cussons for $80m in 2014.

The St Georges Rd deal comes a fortnight since we reported retail executive Mark McInnes outlaid $36m for the historic Dunraven, on the corner of Clendon and Dunraven roads.

Lithium Nick Wakim has also been active in the area, dropping $61m for Huntingfield, at 54 Albany Rd, and $40m another home on the street, at the north east corner of Myoora, opposite Lindsay and Paula Fox’s Eulinya.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.