Melbourne real estate: Ex David Jones boss buys $36m Toorak mansion

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The ex-boss of David Jones has just purchased a new piece of property for a cool $36 million.

Former DJ CEO Mark McInnes and his wife Lisa Kelly are now the proud homeowners of a mansion called Dunraven in the plush Melbourne suburb of Toorak, as of December, according to The Australian Financial Review.

They bought the eight-bedroom, 2639 square metre home off market at the end of last year, the publication reported.

The seller was Cornelia Paule, the wife of Terry Paule, renowned for being the chairman of Findex, a major Australian accounting firm.

Mr McInnes is best known for turning around the fortunes of David Jones in 2010, transforming it from an flailing retail giant to being worth more than $1 billion in three years.

He was mostly recently the CEO of Premier Investments and has secured a plum new gig at rag-to-billionaire retailer Brett Blundy’s private investment firm BBRC.

Mr McInnes and Ms Kelly are already familiar with Toorak, having previously lived there at another, albeit smaller property.

The cashed up couple are upgrading from a (relatively) cheaper home in the area, known as Stonnington House.

They purchased that mansion in 2017 for $12.3 million.

The five bedroom mansion, which also has a pool, a tennis court and more than six parking spots in the garage, is now up for sale with an asking price of $19.5 million.

The street Mr McInnes and Ms Kelly now occupy in Toorak in their name home hosts a number of big names in Australia’s business scene.

A mansion resides on the street called Cranlana estate, which the Myer family held for more than a century with an estimated value of $100 million.

There’s also Aussie businessman and richlister Paul Little who will be their new street neighbour, living at Coonac estate.

Melbourne’s inner city suburb of Toorak is one of the richest in the nation.

Data from property analysis firm PropTrack shows the median house price in Toorak is $5.19 million.

It holds the record for the second most expensive property sale in Australia’s history.

A run-down 10-bedroom mansion was snapped up by crypto kingpin Edward Craven in 2022 for $80 million, setting a new state record, and coming second in the country. Locals have dubbed it a “ghost mansion”.

Mr Craven owns another property in Toorak which had a $38 million price tag.

Chemist Warehouse boss Sam Gance bought a house in Toorak in 2021 for $43 million.

Before that, tech entrepreneur founder Ruslan Kogan held the previous record of $38.8 million.