489-505 Toorak Rd, Toorak, better known as St Germain has sold after being listed for $200m last year.
A Toorak office and retail building considered one of Australia’s best and last year listed for sale with expectations of a $200m result has been confirmed as sold.
It’s also the home of Tim Gurner’s exclusive social and wellness club Saint Haven’s Toorak branch.
Agents are being tight-lipped on the exact price paid, but have branded the deal for the St Germaine building as the biggest of Melbourne’s office market so far in 2026.
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The 12-storey building was sold by Vicland development boss Bill McNee to the Spotlight Property Group — a part of the Spotlight business founded in Melbourne in the 1970s by Morry Fraid and Ruben Fried.
The building, which was only completed in 2023, comes with a rooftop terrace and extensive carparking in the centre of the Toorak village.
Lounge areas feature around the complex.
A bar and dining space help the property stand apart.
Cushman and Wakefield handled the sale, with agent Daniel Wolman noting that at present groups with money were being “highly selective”, but that the sale showed for blue-chip properties that are fully leased — big deals are still getting done.
“This is arguably one of the best mixed-use commercial buildings in the country,” Mr Wolman said.
“The design quality, ESG (Environmental, Social, and Governance) performance, strength of covenant and the Toorak catchment combine to create a genuinely scarce offering.”
Rooftop space comes with impressive city views.
A dramatic staircase that features within the complex.
Tenants at the ritzy 489-503 Toorak Rd address include a Coles and Cecconi’s restaurant, as well as Tim Gurner’s elite social and wellness club Saint Haven, the Kennedy Luxury Group, wealthy developers the Deague Group and Stonnington property agents Kay & Burton — who last year inked the priciest ever Melbourne home sale for Coonac in Toorak at north of $100m.
Gurner’s exclusive club has made headlines for charging $500-$1000 a week membership fees for their venue in the building.
There is also a waitlist for vacancies at the building.
Even the lobby offers luxurious aesthetics.
Locker rooms and changing spaces are part of the building.
Cushman and Wakefield also recently concluded the sale of a nominally vacant plot of land at 402 Chapel St, South Yarra, for the Spotlight Property Group.
Last year a Thai hotel group, KS Hotels, bought the Park Hyatt in Melbourne for more than $205m.
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