The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Toorak

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A luxury Toorak mansion designed by architect Christopher Doyle has been listed for sale.
The Georgian style<a href="https://www.realestate.com.au/property-house-vic-toorak-124959850" target="_blank"> Forrest Court home</a> spans over three levels and sits in gardens landscaped by Paul Bangay.
Set on 693 sqm, the four bedroom, three bathroom home is designed with high ceilings and walls of glass to maximise space and light.
There's an expansive living and dining space that flows to a westerly garden terrace.
Melbourne Sotheby's International Realty agent Phillip French has the listing.
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Toorak mansion designed by Christopher Doyle hits market

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A vacant Toorak block of land fetched $850,000 above reserve when four developers fought for the weekend auction offering.
It came with planning permits for the 658 square metre block at 7 Monomeath Avenue.
The approval was for two luxury townhouses.
Bidding opened a $2.8 million, RT Edgar’s Mark Wridgway who announced the lot on the market at $3 million.
It sold for $3.85 million.
It last sold for $3.6 million in 2015 and $2 million in 2010.
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Toorak townhouse site sells for $3.85 million

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A four bedroom Toorak trophy home has been sold for $5.5 million, the highest priced result in Melbourne at the weekend auctions.
Located at <a href="https://www.realestate.com.au/property-house-vic-toorak-124623202" target="_blank">684 Orrong Road</a>, the property is situated on 877 sqm of land on its Stradbroke Avenue corner lot.
It was marketed with a price guide of $4 million plus.
Built in 1923, the solid brick residence was marketed as available for immediate residency, renovation or development as apartments or townhouses.
It features beamed ceilings and timber floors that are displayed through the reception hall.
The living room has a wood fire heater and dining room opening to the private northwest garden that has a 12 meter solar heated lap pool.
The ground floor main bedroom has an en-suite, built in robes and a private courtyard that features a fish pond.
Toorak Village is within walking distance from the house which has undercover parking for five cars.
The property was offered through Marshall White agents Richard Mackinnon and Fraser Cahill.
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1920s Toorak house sold for $5.5 million

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Veteran Melbourne caterer Peter Rowland and wife Susan have listed their longtime Toorak mansion with $10 million hopes.
They been there for over three decades.
<a href="https://www.realestate.com.au/property-house-vic-toorak-124803974" target="_blank">The elegant Parisian style home</a> reflects the scale and symmetry of 18th century Île de France architecture complete with large banquet hall with antique limestone fireplaces.
Its facade was such a hit that a spate of copycat homes followed in the neighbourhood.
There's a private paved northeast garden with heated pool on the 748 sqm parcel.
It's got a hidden underground garage entrance beneath its tree lined driveway, described as 'James Bond-style' by the listing agents.
Inspired by the trapdoor spider, a lid lifts up on the pebbled driveway to reveal a slope down to the basement art gallery with six car garage.
Marshall White Armidale agents Justin Long and Nicholas Brooks have the offering.
The couple paid $1,175,000 in 1991.
Peter Rowland Catering has been a focal point of the Melbourne food culture for over five decades becoming synonymous with catering for the Melbourne Cup Carnival.
This article first appeared in The Weekend Australian's Mansion Australia section.
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Veteran caterer Peter Rowland lists Toorak mansion

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The infrastructure executive, Netflow managing director Phil Dreaver has bought the Towers Road, Toorak mansion from rich listers Daniel and Danielle Besen.

The New Zealand-born Dreaver has been with one of Australia’s most successful infrastructure investors since 2005. Plenary and Cintra have recently combined to create a joint venture business, Netflow to compete in the Australia and New Zealand road infrastructure market.

As the chief investment officer for Plenary Australia, the 2005 founding director of Plenary Group North America relocated to Australia in 2015.

He had previously worked as a director in ABN AMRO Bank's Infrastructure Capital Group in Sydney, Toronto and Vancouver.

The $26.25 million deal, reported by The Australian, set Melbourne’s record residential price, bettering the $24.1 million set in July 2015 when Tony and Jennifer Smorgon sold their Robertson Street, Toorak home.

Daniel and Danielle Besen, who reportedly separated last year, are members of the billionaire family which founded retail chain Sussan.

<div class="story-image secondary-asset landscape zoomable zoom-on" data-pswp-uid="2"><img alt="The Wood Marsh-designed home was marketed as representing the pinnacle of modern residential design." height="366" src="https://cdn.newsapi.com.au/image/v1/1f40a3ee60b9c0a40162bfe630a93768" width="650"></div>

<div class="story-image secondary-asset landscape zoomable zoom-on" data-pswp-uid="2"> </div>

<div class="story-image secondary-asset landscape zoomable zoom-on" data-pswp-uid="2">The Wood Marsh-designed home, marketed as representing the pinnacle of modern residential design, was never occupied by the Besen’s.</div>

The Besen’s put the Towers Road property on the market in October through Marshall White director Marcus Chiminello.

The property is set on a 2300 square metre block.

<div class="story-image secondary-asset landscape zoomable zoom-on" data-pswp-uid="3"><img alt="The home has four bedrooms and five bathrooms." height="366" src="https://cdn.newsapi.com.au/image/v1/96d0b8b8157b8aa4afc206876118dc0c" width="650"></div>

<div class="story-image secondary-asset landscape zoomable zoom-on" data-pswp-uid="3"> </div>

<div class="story-image secondary-asset landscape zoomable zoom-on" data-pswp-uid="3">Dreaver recently confirmed that Sydney’s WestConnex was a significant opportunity for the new business and would attract Netflow’s initial focus.</div>

<div class="story-image secondary-asset landscape zoomable zoom-on" data-pswp-uid="3"> </div>

<div class="story-image secondary-asset landscape zoomable zoom-on" data-pswp-uid="3">Plenary Group is an independent, long-term investor, developer and manager of public infrastructure with 41 projects worth more than A$29 billion across Australia, Canada and the US.</div>

<div class="story-image secondary-asset landscape zoomable zoom-on" data-pswp-uid="3"> </div>

<div class="story-image secondary-asset landscape zoomable zoom-on" data-pswp-uid="3">Plenary is currently developing some of Australia’s largest transport projects including the A$1.6 billion Toowoomba Second Range Crossing, the A$3.7 billion Sydney Metro Northwest and the A$2 billion High Capacity Metro Trains project in Melbourne.</div>

<div class="story-image secondary-asset landscape zoomable zoom-on" data-pswp-uid="3"> </div>

<div class="story-image secondary-asset landscape zoomable zoom-on" data-pswp-uid="3">Related Projects:</div>

<div class="story-image secondary-asset landscape zoomable zoom-on" data-pswp-uid="3">[smartcode_project:default project_id=600]</div>

<div class="story-image secondary-asset landscape zoomable zoom-on" data-pswp-uid="3">[smartcode_project:default project_id=4807]</div>
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Toorak record price paid by Plenary's Phil Dreaver

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"Houses are my joy," the late Sydney socialite Lady Susan Renouf once said.
And the final chapter in her voluminous property tome was written after $5 million plus negotiations secured the weekend sale of her Toorak home.
It came an hour after being passed in on the one bid of $4.55 million. It didn't sell to the Chinese highest bidders, but another bidder who did not bid.  
Her Melbourne home, which was bought for $1.85 million from the Grimwade establishment family, reflected her return to family from her heady days in Sydney society.
Her many prior homes especially in Sydney and also across the world, along with various husbands, had catalpulted her into the headlines for many decades.
Foremost was The Nunnery, a 400-year-old mansion on the island tax haven, the Isle of Man, her home with the racehorse tycoon Robert Sangster.
They then bought at Point Piper, an 1930s home which she named Toison d'Or. She had the right to live in the house until she died or remarried.
That saw her next husband, Sir Frank Renouf secure the harbour front property, and he changed the name of the house to Paradis Sur Mer. 
After Frank and Susan divorced in 1988, she had Villa Balena, Whale Beach and then Darling Point. She's also owned the renowned English country garden Kennerton Green at Mittagong, in the Southern Highlands.
She once advised she was going to stay in Sydney "you play quite of lot of bridge and golf in Melbourne, and I'm not much good at either" but relocated back to Melbourne in the late 1990s, returning home to her daughters and grandchildren, who were among the 100 strong Kay &amp; Burton auction crowd.
At one stage she calculated she'd lived in 10 houses since Point Piper, but still thought about that house every day.
Renouf was so synonymous with homes that one year in the late 1980s, the good sport that she was, she opened the Sydney Home Show.
This article first appeared in the Sunday Telegraph.
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Lady Susan Renouf's Toorak trophy home sold post-auction

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The former ANZ boss Mike Smith and wife Maria have reportedly sold their Toorak mansion for close to $13 million.
The sale was $2 million less on the $15 million he was reportedly offered last year.
The Hopetoun Road deal fell through after the Chinese buyer failed to get Foreign Investment Review Board approval. 
It last traded in 2007 when bought from businessman John McMurrick $9.65 million.
There is no formal confirmation of the latest sale.
Smith confirmed to The Australian Financial Review last year that the first deal had fallen through and warned that Chinese nationals "have to understand" Australian laws.
Mike Smith put the five-bedroom house on the market in February last year. 
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Former ANZ boss Mike Smith sells Toorak trophy home

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There's a very strong offer on the table for Sark, the Toorak mansion owned by the retailing guru Mark McInnes and wife Lisa Kelly.
The Premier Investments chief executive only listed the 1930 English style home late last month.
And it was bought for $9.25 million only last May.
<a href="https://www.realestate.com.au/property-house-vic-toorak-124583774" target="_blank">Interest from $10 million</a> was quoted by Marshall White agents Marcus Chiminello and Nicole French.
Set on the exclusive Hopetoun Road, the six bedroom, three bathroom home is framed by a deep established garden with pool and spa on its 2023 sqm.
There's also a self-contained two storey cottage.
McInnes still maintains his three apartment North Bondi amalgamation that cost him a combined $7.1 million in 2007.
McInnes was made head of Premier Investments by the Melbourne billionaire Solomon Lew in 2011, having previously run David Jones in Sydney for seven years.
This article first appeared in The Weekend Australian's Mansions Australia section. 
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Strong offer made for Toorak mansion Sark

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The Toorak home of Melbourne society figure Lady Susan Renouf has hit the market following her death last year.
The <a href="https://www.realestate.com.au/property-house-vic-toorak-124539974" target="_blank">Struan Street property</a>, which is expected to fetch $5 million, was bought by Renouf in 2005 for $1.85 million.
Following her purchase she renovated extensively, adding a conservatory to the three bedroom home with two living areas and a study.
The conservatory was one of her favourite parts of the home.
Kay &amp; Burton South Yarra agent Andrew Baines and Mark McKenzie have the home scheduled for a February 25 auction.
Andrew told the Herald Sun the property was in keeping with Renouf's famous elegant personality.
“We’ve described it as an elegant residence,” he said.
“We’ve used the word residence rather than home or house as it has a fairly dignified air and ambience.
“She’s decorated it … with a lot of style and quite a bit of individual flair as well.”
Renouf has owned properties as far as the Isle of Man, but she will be most known for owning Toison d'Or at Point Piper.
The Wolseley Crescent home was sold by her ex-banker husband Sir Frank Renouf for $19.2 million in 1988.
There was also her ownership of Villa Balena, the Whale Beach mansion that she sold for $1.85 million in 1993.
She's also once owned the renowned English country garden Kennerton Green at Mittagong, in the NSW Southern Highlands.
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Toorak home of the late Lady Susan Renouf for sale

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Rich listers Daniel and Danielle Besen have set a record Melbourne property market price with the sale of their Towers Road mansion in Toorak for around $26.2 million.
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<a href="https://www.marshallwhite.com.au/9-towers-road-toorak-417854/" target="_blank">The trophy home</a>, designed by architects Wood Marsh, bettered the previous $24.1 million record set in July this year when Tony and Jennifer Smorgon sold on Robertson Street, Toorak.
Daniel and Danielle Besen - members of the family that founded women’s clothing giant Sussan - put 9 Towers Road property up for sale in October through Marshall White agent Marcus Chiminello.
No price reveal, but the $26 million was tipped by The Australian. Offers were due by December 12.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2016/12/20/Toorak-2.jpg" alt="">
Set on a 2300 square metre block, it has four bedrooms, each with ensuites, a library, a media room, a wine lounge which was a six year project.
The Wood Marsh home was marketed as representing the pinnacle of modern residential design and sports a sculpturally striking facade of raw textured concrete, scalloped in sweeping arcs.
Mrs Besen is off to a 1930s Arnauld Wright-designed Power Avenue home.
The previous state record of $26 million was held by Ilyuka, on the Portsea clofftop in 2010.
The year’s biggest single house sale was Point Piper's Altona, which sold for more than $60 million to locally-based Hunters Hill businessman Huang Jiaer, son of Chinese printing magnate Huang Bingwen, founder of Shantou Dongfeng Printing.
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