Melbourne’s most expensive home, Toorak compound Coonac, now belongs to healthcare billionaire Dennis Bastas and his wife Georgina.
The sale was made earlier this year, when the grand estate was sold by ex-Toll boss and former Essendon chairman Paul Little and his wife, former investment banker and University of Melbourne chancellor Jane Hansen.
According to the Australian Financial Review, the Bastas’s already own a nearby trophy home in Toorak, with multiple sources confirming they are set to take the keys to the larger Coonac estate.
The estate sits on a sprawling 1.08-hectare site with 200-metre frontage on Clendon Road.
The price paid is unknown at this time and will likely only be confirmed at settlement as Bastas and Little have declined to comment.
But it will be the first residential deal over $100 million in Victoria.
Fifty-eight-year-old Bastas is a self-made healthcare billionaire. His parents are Greek immigrants who came to Australia in the early 1960s from the Peloponnese and settled in Melbourne.
He studied engineering and industrial design at Monash University, had stints in department store logistics and Village Roadshow before spotting a gap in the Australian market for generic pharmaceuticals.
He is now chief executive of DBG Health, Australia’s largest diversified pharmaceutical, health and beauty products business.
This new property expands the Bastas family’s already big property portfolio, which includes another Toorak home on Landale Road purchased for $17 million in 2012, a home in South Yarra purchased for $10.5 million last year, and a one-hectare site in Portsea.
