Vizard 'Fast Forwards' Asian sale

MELBOURNE identity Steve Vizard has set a new record in Melbourne by selling his Toorak mansion for a reputed $18 million.

The sale eclipses the last record set by Toll Holding’s chief Paul Little who paid $16 million for Toorak mansion Coonac in 2002.

Vizard sold the property to an undisclosed Chinese buyer, who reputedly “came knocking on the door, literally, with an offer he could not refuse”.

Located at 729 Orrong Road, Vizard bought the 100 sqm two level house in 2003 for $6.6 million from furniture maker John Moran.

Vizard paid for $5.4 million and a further $1.2 million for the adjoining tennis court block.

Since 2003, Vizard has reportedly made renovations tallying $8 million.

The property covers over 930 sqm and sits on a 4,650 sqm site. It was built in 1920s by Melbourne stockbroker John Baillieu, the grandfather of Victorian Liberal opposition leader Ted Baillieu.

Australian Property Journal