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Chemist Warehouse CEO’s lavish Melbourne mansion advertised for $12,500 a week with a $75,000 bond

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Chemist Warehouse CEO Sam Gance has raised eyebrows after his Melbourne mansion was up for rent for a whopping $12,500 a week with an eye-watering bond.

The multimillionaire boss and his Real Housewives of Melbourne partner Janet Roach put their fully furnished home in the affluent suburb of Toorak up for sale on Wednesday.

But to move into Victoria’s most expensive rental home, the cashed-in tenant must pay the astonishing $75,000 bail.

Chemist Warehouse CEO Sam Gance his Real Housewives of Melbourne partner Janet Roach put their fully furnished Melbourne townhouse on the market for renters on Wednesday

The extravagant house in the affluent suburb of Toorak is built in the old English style of the 1940s and costs $12,500 a week to rent, with a staggering $75,000 deposit

The extravagant house in the affluent suburb of Toorak is built in the old English style of the 1940s and costs $12,500 a week to rent, with a staggering $75,000 deposit

The move comes as Mr Gance spent $43 million last month on another lavish property just minutes away.

The purchase is the highest amount recorded for a Toorak home and an Australian record for the most expensive home purchase through auction.

Placed on the rental market, Mr Gance’s 3563 sqm property was built in the old English style of the 1940s and has recently been tastefully modernised.

The ‘traditional Toorak’ house has five bedrooms, five bathrooms, two ladies toilets and seven car spaces.

The extravagant estate is located in the heart of the prestigious suburb, close to Toorak Village and just ten minutes from Melbourne’s CBD.

The traditional Toorak¿ house features five bedrooms, five bathrooms, two powder rooms, all necessary spaces and seven car spaces (Pictured: one of the deluxe bedrooms)

The ‘traditional Toorak’ house features five bedrooms, five bathrooms, two powder rooms, all necessary spaces and seven car spaces (Pictured: one of the deluxe bedrooms)

Pictured: An extravagant bathroom in the house, decked out with an oval tub

Pictured: An extravagant bathroom in the house, decked out with an oval tub

The extravagant estate is located in the heart of the prestigious suburb, close to Toorak Village and just ten minutes from Melbourne's CBD (Pictured: Games room with a bar)

The extravagant estate is located in the heart of the prestigious suburb, close to Toorak Village and just ten minutes from Melbourne’s CBD (Pictured: Games room with a bar)

Mr. Gance has been the homeowner for the past 30 years after purchasing the lavish mansion in 1990 for $3.58 million.

Darren McMullin, a partner at Key & Burton, is responsible for the luxury listing along with Grace Morley of Marshall White.

While Mr McMullin was unwilling to comment on the property details of the house, he said the remarkable property is extraordinary for the sheer size of the estate and what it has to offer.

Darren McMullin, a partner at Key & Burton, said the remarkable property is extraordinary for the sheer size of the estate and what it offers

Darren McMullin, a partner at Key & Burton, said the remarkable property is extraordinary for the sheer size of the estate and what it offers

The broker said the high-end property would most likely attract the local and executive business markets (Pictured: lavish spiral staircase)

The broker said the high-end property would most likely attract the local and executive business markets (Pictured: lavish spiral staircase)

Mr McMullin said that during his 16-year tenure he has only come across a 'handful of properties' such as the Toorak estate

Mr McMullin said that during his 16-year tenure he has only come across a ‘handful of properties’ such as the Toorak estate

‘It sits on a huge plot of land, has a lagoon pool, large gardens, and then the house itself offers an abundance of accommodation for a family, it has an au pair residence and it is clearly decorated to a very high standard,’ Mr . McMullin told Daily Mail Australia.

“I’ve been with Kay & Burton for 16 years and in that time I’ve only come across a handful of these types of properties.”

The broker said the high-end real estate would most likely attract the local and executive business markets.

Mr McMullin said people are willing to spend money on an extravagant property such as Mr Gance's house in Toorak because of the lack of supply

Mr McMullin said people are willing to spend money on an extravagant property such as Mr Gance’s house in Toorak because of the lack of supply

Pictured: Estate of the Toorak house

Pictured: Estate of the Toorak house

‘It will appeal to either the local market – meaning someone who may be renovating in the area – or the executive corporate market.

“So you could have a CEO move from interstate and offshore, but right now I’d probably just say interstate,” added Mr. McMullin.

Mr McMullin said people are willing to spend money on an extravagant property such as Mr Gance’s house in Toorak, because of the lack of supply at the moment.

He further added that Covid-19 has enabled individuals to cut back on their spending and consider upgrading to larger properties that meet their needs (Pictured: Tennis court in the backyard of the house)

He further added that Covid-19 has enabled individuals to cut back on their spending and consider upgrading to larger properties that meet their needs (Pictured: Tennis court in the backyard of the house)

The property has already aroused interest from potential tenants and will be available to move into from February (Photo: the lagoon pool of the house)

The property has already aroused interest from potential tenants and will be available to move into from February (Photo: the lagoon pool of the house)

“Demand is really strong right now and the supply just isn’t there to meet that demand.”

He added that Covid-19 has enabled individuals to cut back on their spending and consider upgrading to larger properties that meet their needs.

‘In recent years, people have worked from home, brought children to school and lived, and have not spent any money on a foreign holiday.’

“So they come to the conclusion that they need a property that meets their requirements more than what their existing property does,” said Mr. McMullin.

The property has already aroused interest from potential tenants and will be available to move into from February.

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