Yoghurt boss sells his luxury Melbourne mansion for a wild price (2024)

A former yoghurt empire mogul has sold his opulent mansion for a staggering $40million - almost double the price he bought it for a decade ago.

David Prior, the founder of five:am yoghurt, bought the home at 14 St Georges Road in Toorak, one of Melbourne's richest streets for $23million 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 whisky business in Scotland which he bought in 2015.

Despite the eye-watering price, the unidentified buyer was able to get the five-bedroom home for a discount after it was initially listed for between $46-$50million in September.

Kay & Burton managing director Ross Savas confirmed the sale but wouldn't confirm the price, which was later revealed by an inside source to The Age.

Mr Savas hailed the home as 'a remarkable property and one of the most iconic homes in Melbourne'.

The almost 3000sqm property has five bedrooms, five bathrooms, two car parks and a swimming pool and tennis court in the backyard.

Visitors are greeted to a pebbled motor court before reaching the lavish home and its large living rooms and marble counters in the bathrooms and kitchen.

The numerous gardens around property were brought to life by Paul Bangay who's regarded as 'Australia’s most sought-after garden designer.

'This is an unparalleled trophy home and everyone is very happy with the result,' Mr Savas told the publication.

He added the luxury housing market had entered a 'golden window' for sales to potential international buyers during Chinese New Year.

Positioned south-east of the city's CBD, the street has long been regarded as one of the city's most sought after.

St Georges Road has maintained its opulent aura for almost half a century and features Victoria's most expensive property.

That property was bought for over $80million in August 2022 by cryptocurrency king, Ed Craven, who promptly knocked down the unfinished red-brick mansionwhich had come to be known as 'Toorak’s ghost mansion'

Its massive price tag was also the third-largest property sale in Australian history at the time.

Another home on the road was sold in 2017 for$38million despite damaged by a fire.

The street is also the site of Melbourne's first $1million home sold in 1980.

Mr Prior built up yoghurt brandfive:am from scratch in 2009 and sold it in 2014 to UK-based consumer products company PZ Cussons for $80 million.

The following year, Mr Prior bought the 200-year-old Bladnoch Distillery in Scotland and spent £5million (AU$8.4million) on refurbishments to bring it back up to scratch.

Bladnoch started to produce the whiskey again in 2017 after the installation of new distilling equipment and two additional stills.

Mr Prior and his family are believed to be relocating to the United Kingdom to work full-time on expanding the distillery and break into the international scotch market.

The distillery launched a limited release from its 'Samhla collection' last year, which included one of 15 bottles of McClelland bottled in 1966 and worth about $95,000.

It is now selling bottles of scotch internationally for between $100 and $950.

Melbourne

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