Aussie billionaire pays more than $136 million to create mega-compound

Self-made Australian billionaire Dennis Bastas and his wife Georgina have parted with an astonishing sum to create a mega-compound in Melbourne.

The healthcare entrepreneur paid $136.1 million for two titles in Toorak, according to The Australian Financial Review.

The couple paid $124 million for the landmark mansion, Coonac, and $12.1 million for an adjoining 1950s apartment block. Both parcels are on Clendon Road.

The AFR was first to report on the off-market deal, as well as the couple’s plans to spend a further $38.5 million renovating the two sites.

Bastas, 59, is the chairman and group CEO of DBG Health, an Australian-based diversified health and beauty company. His estimated net worth sits at $5.2 billion, according to Forbes. 

Their new location on Clendon Road holds its own records. It is the most expensive street in Melbourne and is the city’s only prestige street to break into a Sydney-dominated ranking.

Ray White data revealed the median street value on Clendon Road is $17,750,500.

It slots in seventh place nationally, making Toorak one of only four suburbs across Australia represented in the national top 10.

The final $136.1 million combined price for the Toorak sites eclipses Australia’s previous standalone house price record – the $130 million deal involving Point Piper trophy estates in Sydney’s eastern suburbs.

However, it remains in second place to Yan Zhang’s $141.55 million penthouse purchase.

Zhang bought the top three floors of Lendlease’s One Sydney Harbour development at Barangaroo South in June 2025.

The off-the-plan sale, inked in 2019, is an amalgamation of the two-storey penthouse of the Renzo Piano-designed building, which is for himself. 

A sub-penthouse directly below is for friends and family to stay in. 

The sale tops all of Australia’s previously confirmed house and apartment records. 

While Zhang retains the most expensive apartment sale, the Bastas purchase claims the title as the most expensive residential holding in the country’s history.