Property developer Harry Stamoulis’ palatial $70 million mansion is nearing completion.

Scaffolding has been removed from the two-storey residence that boasts five bedrooms, nine bathrooms, live-in staff quarters and a ballroom.

Mr Stamoulis bought the Toorak address for $24 million in 2010 and has since spent more than $50 million building and furnishing his brand new residence.

The price tag could make it Australia’s most expensive residence.

Mr Stamoulis has included a number of Greek motifs in the build like the meandros that snakes across the façade and a number of hand-carved sculptures.

The ballroom is said to have been modelled on the Plaza Hotel, with an imposing skylight situated in an eight-metre high ceiling.

BRW estimates the Stamoulis family’s wealth to be $540 million.

Source: Domain