Victory founder offloads unfinished Toorak mansion

The permitted Hopetoun Road mansion.

Update: Landream purchased this property at a discount to guide. Read our story here.

An unfinished seven bedroom mansion in one of Melbourne’s best streets has attracted a buyer.

The former home included a modernised kitchen and tennis court.

Victory Offices founder and majority owner Dan Baxter is behind the unusual listing of 17 Hopetoun Road, Toorak.

The businessman was part through a new build when COVID hit, decimating the value of the serviced office company which floated in mid-2019, and his own fortune, which at its peak, was over $50 million.

The part-complete dwelling hit the market in July with a $15m-$16.5m guide.

This then lowered to $13.5m-$14.5m.

Vicinity shut seven offices – three in Melbourne and four in Sydney – in the 12 months to June 30.

Also earlier this year, resignations were tendered from the former chief financial officer, Keith Pollock, and chairman and non-executive director, ex-premier, Steve Bracks (story continues below).

The proposed entrance with a double height ceiling.

Bargain basement

One of several living zones in the permitted Toorak dwelling.

Mr Baxter paid $14.75m for the 1433 sqm Hopetoun Rd block in 2019, then razed a part-modernised, double storey home with a tennis court.

The permit allows for a four level replacement with a cinema, gym, sauna and wine cellar. The basement, which like the first floor has had its concrete poured, can accommodate 14 cars.

S&K Group is responsible for the construction to date; it also has a caveat on the title.

Abercromby’s Sam Goddard and Edward Royle, the agents, said the floorplan could be redesigned, despite the building to date.

Subscribe to our newsletter at the bottom of this page.

Share or Recommend article

Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of