Wellcom Group chief executive Wayne Sidwell has sold his Toorak mansion to Simon and Allison Strapp.
Mr Strapp, son of car dealer Terry, is also finance director with marketing company The Promotions Factory.
The buyer has reportedly made an enterprise from renovation rescues in Melbourne’s blue ribbon suburbs.
For the last six years he has turned around a couple of Portsea projects according to agents including his most recent, a nine-bedroom clifftop residence the family retains.
The Lansell Road home – a double story with five bedrooms and study, has two street frontages.
It also includes an inground pool and front and rear gardens.
It could accommodate a tennis court.
The incoming owners are planning a major renovation.
At its eastern border, the property backs onto one the c1848 property which gave the suburb its name, Toorak House (now occupied by the Swedish Church of Victoria).