Chemist Warehouse Boss Purchases Morning Star Estate

 Chemist Warehouse Boss Purchases Morning Star Estate

A landmark estate on the Mornington Peninsula has been purchased by the co-owner of My Chemist Retail Group, Mario Verrocchi, after attracting interest from all across the globe.

The stunning Mount Eliza property was listed on the market for three months with a $40 million price tag, and though the final sale price remains under wraps, it is thought to have transacted at around that figure.

The Australian rich lister lodged a caveat on the 63-hectare estate towards the end of last week, days before the sale was confirmed.

The listing agent for the historic home, Michael Keating, could not disclose the final sale price or the identity of the buyer but did say that Morning Star was in safe hands and that the vendor was delighted with the result.

“The buyer was an international businessman based in Australia and they know what needs to be done to the property to turn it into a world-class estate,” he said.

“He knows his real estate very, very well and he knows how precious the Mornington Peninsula is.”

“The final price was outstanding and the vendor is extremely happy with the result, and happy that the property has gone to somebody who is going to lavish a lot of love, care and attention to the property,” said Mr Keating.

“It has got absolutely everything going for it, and the joy with this buyer is he not only has the vision but also has the way with all to see it through.

It comes as no surprise that the remarkable home drew interest from all over the world, with buyers circling to get their hands on this grand residence located just an hour from Melbourne, and Mr Keating made a bold prediction if it is ever sold again.

“We had interest from Australian expats in America, Hong, Kong, France, Thailand and Australia,” said Mr Keating.

“It is a stunning property, I think if it ever does get sold it’ll be Australia’s first $100 million property, I would be very confident of that,” he said.


Michael Keating
Michael Keating International

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