A former yogurt empire magnate has sold his lavish mansion for a whopping $40 million – almost double the price he bought it for a decade ago.
David Prior, the founder of five:am yoghurt, bought the house at 14 St Georges Road in Toorak, one of Melbourne’s wealthiest streets, in 2014 for $23 million.
He put the property on the market five months ago after deciding to focus more on Bladnoch Distillery, a 200-year-old whiskey company in Scotland that he bought in 2015.
Despite the eye-watering price, the unknown buyer was able to snag the five-bedroom home at a discount after it was initially listed for between $46 million and $50 million in September.
David Prior (pictured), founder of the all-natural yoghurt brand and whiskey magnate, has sold his Melbourne home for a staggering $40 million
Kay & Burton director Ross Savas confirmed the sale but would not confirm the price, which was later revealed by an inside source. The age.
Mr Savas called the house “a remarkable property and one of the most iconic homes in Melbourne”.
The 3,000-square-foot property has five bedrooms, five bathrooms, two parking spaces and a swimming pool and tennis court in the backyard.
Visitors are greeted on a pebbled motor court before reaching the opulent home with its large living rooms and marble countertops in the bathrooms and kitchen.
The numerous gardens surrounding the property have been brought to life by Paul Bangay, considered ‘Australia’s most sought-after garden designer’.
“This is a trophy house second to none and everyone is very happy with the outcome,” Mr Savas told the publication.
He added that the luxury housing market had entered a “golden window” during Chinese New Year for sales to potential international buyers.
Located southeast of the city’s CBD, the street has long been considered one of the city’s most desirable streets.
The five-bedroom house at 14 St Georges Road (pictured) in Toorak, one of Melbourne’s wealthiest streets, was purchased by an unknown buyer
Mr Prior sold the lavish home (pictured) after reportedly moving to the UK to focus on the Scottish distillery he bought in 2015
St Georges Road has retained its opulent appearance for almost half a century and is Victoria’s most expensive property.
That property was purchased for more than $80 million in August 2022 by cryptocurrency king Ed Craven, who promptly knocked down the unfinished red-brick mansion. which became known as ‘Toorak’s haunted house’
The huge price tag was also the third largest property sale in Australian history at the time.
Another house on the road sold for $38 million in 2017, despite damage from a fire.
The street is also the location 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 include a swimming pool and tennis court (pictured)
It’s on the same street as Victoria’s most expensive property and the first home in Melbourne to sell for more than $1 million
Mr Prior built the five:am yoghurt brand from scratch in 2009 and sold it to British consumer products company PZ Cussons for $80 million in 2014.
The following year, Mr Prior bought the 200-year-old Bladnoch Distillery in Scotland and spent £5 million (AU$8.4 million) on renovations to bring it up to date.
Bladnoch restarted whiskey production in 2017 after installing new distillation equipment and two additional stills.
It is believed that Mr Prior and his family are moving to Britain to work full-time on expanding the distillery and breaking into the international whiskey market.
The distillery last year launched a limited release of the ‘Samhla Collection’, which included one of 15 bottles of McClelland, bottled in 1966 and valued at approximately $95,000.
It now sells bottles of whiskey internationally for between $100 and $950.