Chemist Warehouse family pays $22.8m for six houses to demolish them
Can't find your dream home? In Melbourne's well-heeled inner east, one option is to buy out your neighbours – and build it.
The Verrocchi family, of Chemist Warehouse fame, have bought six adjacent houses in Toorak for a combined $22.83 million and secured a planning permit to build a new residence.
They're not alone, as families with the means look to create homes that suit their needs rather than buying someone else's vision.
Matthew and Nicole Verrocchi are set to demolish the existing mix of town residences and apartments to build their dream home. Matthew's father is Mario, Chemist Warehouse co-founder, and Matthew is part of the empire as well as managing director of Bondi Perfume Co.
The first purchase was in 2017, a $5.78 million contemporary home in Toorak marketed with a butler's pantry, barbecue and heated swimming pool. The selling agent was Marshall White's Marcus Chiminello who could not be reached.
Their next buy the following year was the home of their next-door neighbour to the south for $2.4 million, also through Marshall White, described in its listing as an original Edwardian residence and opportunity for a new luxury home.
The couple spent another $2.4 million in 2022 on the next house to the south, a four-bedroom town residence with skylights, stainless-steel appliances and a rear courtyard, through Woodards South Yarra.
In 2023, they bought out the neighbour on the north side of their original purchase, paying $5 million, then in 2024, they added the next neighbour to the south side of their expanding footprint for $2.75 million.
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The Age
2 days ago
- The Age
Chemist Warehouse family pays $22.8m for six houses to demolish them
Can't find your dream home? In Melbourne's well-heeled inner east, one option is to buy out your neighbours – and build it. The Verrocchi family, of Chemist Warehouse fame, have bought six adjacent houses in Toorak for a combined $22.83 million and secured a planning permit to build a new residence. They're not alone, as families with the means look to create homes that suit their needs rather than buying someone else's vision. Matthew and Nicole Verrocchi are set to demolish the existing mix of town residences and apartments to build their dream home. Matthew's father is Mario, Chemist Warehouse co-founder, and Matthew is part of the empire as well as managing director of Bondi Perfume Co. The first purchase was in 2017, a $5.78 million contemporary home in Toorak marketed with a butler's pantry, barbecue and heated swimming pool. The selling agent was Marshall White's Marcus Chiminello who could not be reached. Their next buy the following year was the home of their next-door neighbour to the south for $2.4 million, also through Marshall White, described in its listing as an original Edwardian residence and opportunity for a new luxury home. The couple spent another $2.4 million in 2022 on the next house to the south, a four-bedroom town residence with skylights, stainless-steel appliances and a rear courtyard, through Woodards South Yarra. In 2023, they bought out the neighbour on the north side of their original purchase, paying $5 million, then in 2024, they added the next neighbour to the south side of their expanding footprint for $2.75 million.
Sydney Morning Herald
2 days ago
- Sydney Morning Herald
Chemist Warehouse family pays $22.8m for six houses to demolish them
Can't find your dream home? In Melbourne's well-heeled inner east, one option is to buy out your neighbours – and build it. The Verrocchi family, of Chemist Warehouse fame, have bought six adjacent houses in Toorak for a combined $22.83 million and secured a planning permit to build a new residence. They're not alone, as families with the means look to create homes that suit their needs rather than buying someone else's vision. Matthew and Nicole Verrocchi are set to demolish the existing mix of town residences and apartments to build their dream home. Matthew's father is Mario, Chemist Warehouse co-founder, and Matthew is part of the empire as well as managing director of Bondi Perfume Co. The first purchase was in 2017, a $5.78 million contemporary home in Toorak marketed with a butler's pantry, barbecue and heated swimming pool. The selling agent was Marshall White's Marcus Chiminello who could not be reached. Their next buy the following year was the home of their next-door neighbour to the south for $2.4 million, also through Marshall White, described in its listing as an original Edwardian residence and opportunity for a new luxury home. The couple spent another $2.4 million in 2022 on the next house to the south, a four-bedroom town residence with skylights, stainless-steel appliances and a rear courtyard, through Woodards South Yarra. In 2023, they bought out the neighbour on the north side of their original purchase, paying $5 million, then in 2024, they added the next neighbour to the south side of their expanding footprint for $2.75 million.
AU Financial Review
3 days ago
- AU Financial Review
Chemist Warehouse insiders dump shares worth $4.7b in mass exit
One franchisee has sold $650 million worth of Chemist Warehouse shares, another a stake valued at $380 million. Ever since the pharmacy giant's debut on the ASX through a merger with wholesaler Sigma Healthcare, its biggest shareholders have been making a mint offloading stock. In all, some 37 per cent of the $13.8 billion in shares that aren't restricted from sale have changed hands since the February backdoor listing, which created one of the largest companies on the ASX and transformed Chemist Warehouse's founders into some of the wealthiest people in the country.
