Lavish Living: The Buxton Family’s Billion-Dollar Toorak Revival

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The Buxton family, renowned on the Financial Review Rich List, has invested in Melbourne’s exclusive Toorak suburb by partnering with developer Orchard Piper for a $400 million luxury apartment project that will be built at the site of the current Mercedes-Benz car dealership.

The Buxton brothers, Andrew and Michael – founders of MAB Corp – lead a $1.4 billion transformation of Toorak Village in their suburb’s central shopping hub and its premier commercial avenue: Toorak Road. This revolution comprises residential and commercial projects that will modernise the area significantly.

Orchard Piper

According to Orchard Piper director Luke McKie, these new developments are setting Toorak Village up for tremendous success; it will soon reclaim its status as a high-profile suburban centre.

“For the past 15 years, Toorak Village has been Melbourne’s neglected retail oasis,” Mr McKie said.

“Sydney’s Double Bay has come into its own, and Toorak Village could experience similar success with the right approach,” he added.

The local council has plans to upgrade its streetscape next year, adding new footpaths and lighting along the way.

Mr McKie expressed how incredibly beneficial it would be to the project if they brought on Buxtons and Corsair as equity investors, citing their combined one-hundred years of multi-generational development experience.

Orchard Piper’s CEO, Mr McKie and his co-founder Rick Gronow are determined to give the public a one-of-a-kind multi-use space with 5 – 6 stories of luxurious apartments and an extraordinary concierge service.

“We aspire to create something with a wider reach than just focusing solely on the typical downsizing demographic,” Mr McKie said.

“These apartments will be a perfect fit for families with teenage children who are ready to become empty-nesters and prioritise safety while planning their next trip,” he said.

“Boasting an extensive selection of unit sizes, this upcoming development will consist of 40-50 apartments ranging in size from 120 to 600 square meters and including several luxurious penthouses.”

He hopes that the premium restaurant will attract an operator of a similar calibre to Glo Glo’s, a renowned Toorak eatery managed by Gloria Staley, who was famously dubbed ‘the hospitality queen’ before her passing.

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