The 6 Heyington Place, Toorak, home of late toy train mogul WaiShing Ting has sold for a sum believed to be north of $25m.
The Toorak mansion of the family behind one of the world’s biggest model train manufacturing groups has been sold for a sum north of $20m.
The Heyington Place mansion hit the market about a month ago with a $24m-$26m asking price, with records showing it was owned by Helena Ting — widow of WaiShing Ting.
Mr Ting was a former chief executive of Hong Kong-based toy train manufacturer Sader Kan, which was bought out by the Kader Group in the early 2000s which is now the world’s biggest model train manufacturer.
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While his business was based in Hong Kong, Mr Ting bought the home in 1979 for $500,000.
With industry sources suggesting it had made more than $25m, the decades old investment stands to have returned upwards of $24m.
Kay & Burton’s Gowan Stubbings worked on the listing and said he could not discuss the buyer or the home’s sale price, but noted it had attracted multiple offers and confirmed a local family had purchased the home.
Inside the home retains classic features, and plenty of open space.
With a pool and tennis court, the property comes with expansive grounds.
“It had about four weeks on the market and at the close of the campaign last Saturday we got an offer — and it went from there, with multiple parties making offers,” Mr Stubbings said.
Families that pursued the home included a number who were keen to be close to nearby St Catherine’s School.
“It’s a pretty popular school and highly reguarded,” Mr Stubbing said.
“The location and land size were also big draw cards.”
The double-storey house on a 2787sq m allotment features three living areas, including the kitchen and meals area, a home office, six bedrooms and three bathrooms in its 20-room floorplan.
A stone fireplace in the home office adds warmth to the spacious house.
Formal spaces around the home are lined with intricate plasterwork and tree-lined views.
While the sale had emerged relatively quickly, the agent said the reality was that agents were having to work hard to get deals done in the current market — but they were still happening.
Mr Stubbings added that there could be more homes hit the market north of $20m before the end of the year.
“There’s probably a few owners that are watching and might like to put their home on the market,” he said.
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