Chemist Warehouse king buys two mansions next to each other for $30million – but plans to KNOCK DOWN one of them
- Chemist Warehouse king Jack Gance and his wife bought two adjacent mansions for more than $30million
- The blocks combined give the rich-listers a whooping 4250 squares the exclusive Melbourne suburb, Toorak
- The Gance’s paid $15.5million for the first property before snatching up the one next door this week
- Both homes come complete with tennis courts and swimming pools but the couple plan to knock one down
- The plans for the patch of land remains unclear but a rebuilt home on the coveted land could cost $20million
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Chemist Warehouse Tycoon Jack Gance and his wife have paid a whopping $30million for two mansions – but one will be ripped down.
The two blocks combined will monopolise a large portion in one of Melbourne’s most exclusive suburb, expanding more than 4250 squares.
Property records revealed Mr Gance’s wife Evelynne Gance signed away $15.5million for one property in Toorak in January, before she snatched up a neighbouring property this week, Domain.com.au reports.
Mr Gance and his wife Evelynne bought the first Toorak property (pictured) in January before adding the neighbouring residence to the family’s property portfolio this week
The latest purchase cost the couple a further $15million.
The six-bedroom residence features a marble foyer, granite kitchen, library, office, heated swimming pool, floodlit tennis court, garaging for four cars, gas log fireplaces and central heating.
A Stonnington council spokesman confirmed on Thursday that consent for the demolition of one of the properties was issued in November.
The Chemist Warehouse co-founder’s wife signed papers for the neighbouring residence in Toorak (pictured) this week
The spokesman said no planning permission would be required for a single dwelling as there are not heritage restrictions as both sites are bigger than 500 square metres and do not have overlays.
As it stands, the four-bedroom home contains a pool, spa, tennis court, double garage, marble kitchen, butler’s pantry, wine store, French oak floors and an automated sprinkler system.
The plans for the patch of land remain unclear.
Permission was granted in November for the four-bedroom home (pictured), featuring a pool, spa, and tennis court, to be demolished
They said the estimated cost of a rebuild would sit around $20million dollars.
Mr Gance is the co-founder and chairman of My Chemist Retail Group, an Australian pharmacy company comprising of Chemist Warehouse and My Chemist stores.
The enterprise was launched in 2000 and now operates 400 stores across Australia and New Zealand.
He was valued at $989 million on the most recent Financial Review Rich List.
The $15million six-bedroom mansion that boasts a spa, pool, tennis court, office, library will be kept intact
Toorak, five kilometres south-east of Melbourne’s CBD, is home to more of Australia’s billionaires and millionaires than any other suburb in the country.
The median property price to buy is $3.7million while a rental costs an average of $950 per week, according to realestate.com.
Jack Gance co-founded the Chemist Warehouse (store pictured) empire with Mario Verrocchi in 2000 and now has 400 stores across Australia and New Zealand