A former yogurt empire tycoon has sold his opulent mansion for a staggering $40 million, nearly double the price he bought it for a decade ago.
David Prior, founder of five:am yogurt, bought the house at 14 St Georges Road in Toorak, one of Melbourne’s wealthiest streets, for $23 million in 2014.
He put the property on the market five months ago after he decided to focus more on Bladnoch Distillery, a 200-year-old whiskey company in Scotland that he bought in 2015.
Despite the eye-popping price, the unnamed buyer was able to score the five-bedroom home at a discount after it was initially listed for between $46 million and $50 million in September.
Plain yogurt brand founder turned whiskey mogul David Prior (pictured) has sold his Melbourne home for a jaw-dropping $40 million.
Kay & Burton CEO Ross Savas confirmed the sale but did not confirm the price, which was later revealed by an inside source to Age.
Savas praised the house as “an extraordinary property and one of Melbourne’s most iconic homes”.
The almost 3,000 m² property has five bedrooms, five bathrooms, two parking spaces and a swimming pool and tennis court in the backyard.
Visitors are greeted on a pebble path before arriving at the luxurious home and its large living rooms and marble counters in the bathrooms and kitchen.
The numerous gardens surrounding the property were brought to life by Paul Bangay, considered Australia’s most sought-after garden designer.
“This is a trophy house like no other and everyone is very happy with the result,” Savas told the publication.
He added that the luxury property market had entered a “golden window” for sales to potential international buyers during the Chinese New Year.
Located southeast of the city’s central business district, the street has long been considered one of the most sought after in the city.
The five-bedroom house at 14 St Georges Road (pictured) in Toorak, one of Melbourne’s wealthiest streets, was bought by an unidentified buyer.
Prior sold the opulent home (pictured) after reportedly moving to the UK to focus on the Scottish distillery he bought in 2015.
St Georges Road has maintained its opulent aura for almost half a century and boasts the most expensive property in Victoria.
That property was purchased for more than $80 million in August 2022 by cryptocurrency king Ed Craven, who quickly tore down the unfinished red brick mansion. which became known as “Toorak’s ghost mansion”
Its huge price tag was also the third largest property sale in Australian history at the time.
Another house on the road sold in 2017 for $38 million despite being damaged by fire.
The street is also the site of Melbourne’s first $1 million home sold in 1980.
The home’s numerous gardens were brought to life by “Australia’s most sought-after garden designer” Paul Bangay, and features a swimming pool and tennis court (pictured).
It is on the same street as Victoria’s most expensive property and Melbourne’s first home sold for more than $1 million.
Prior created the five:am yogurt brand from scratch in 2009 and sold it in 2014 to UK-based consumer products company PZ Cussons for $80 million.
The following year, Prior bought the 200-year-old Bladnoch distillery in Scotland and spent £5 million ($A8.4 million) on renovations to get it back up to snuff.
Bladnoch began producing whiskey again in 2017 after the installation of new distillation equipment and two additional stills.
It is believed Prior and his family will move to the UK to work full-time on expanding the distillery and entering the international Scotch whiskey market.
The distillery released a limited edition of its ‘Samhla collection’ last year, which included one of 15 bottles of McClelland bottled in 1966 and valued at around $95,000.
He now sells bottles of whiskey internationally for between $100 and $950.