George Calombaris sells Toorak mansion to help settle $8.5 million debt

·

Former Masterchef Australia judge George Calombaris has sold his mansion in Melbourne’s Toorak for an undisclosed fee as he looks to settle a remaining $8.5 million debt.

According to The Age, Calombaris sold his mansion for an undisclosed fee to 35-year-old Chinese-born buyer Ka Ning Cheung. He and his wife, Natalie, purchased the pad in 2013 for $4.75 million.

An expression of interest sign was first placed outside the five-bedroom French provincial-style home on February 10.

Sold: George Calombaris’s home in Toorak. Photo:JASON SOUTH/The Age

This is around the same time the celebrity chef’s restaurant empire suffered $20.7 million in losses before it went into voluntary management.

The collapse forced the closure of 12 venues, including the souvlaki chain Jimmy Grants and three Hellenic Republic Greek restaurants. At the time, the company employed 364 permanent and casual staff. Meanwhile, former Swisse vitamins boss Radek Sali, Made’s sole director, did his dough to the tune of $11.5 million.

READ MORE: George Calombaris restaurant empire’s collapse costs taxpayers $1 million
READ MORE: George Calombaris’ restaurants suffered $20 million in financial loss

Various bits of the business have been flogged off since. Part of the Jimmy Grants went to the owners of Melbourne Greek institution Stalactites, while the Yo-Chi frozen yoghurt stores ended up in the hands of the sons of Boost Juice founder Janine Allis.

Prominent immigration agent Lily Ong handled the deal. On Tuesday, the agent and solicitor said she was representing the new owner, but was coy when contacted by CBD, noting that the house is not in Calombaris’ name (it’s in the name of his wife).

“Other than that I can’t comment,” she said.

Sourced By: The Age

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Alpha restaurant to host centenary celebration honouring Mikis Theodorakis

On Sunday, August 24 at 12pm, Alpha restaurant will host 'Centenary Tribute to Mikis Theodorakis' featuring the Australian Hellenic Choir.

Phlavour Revolution: Greek duo deliver home-cooked goodness to your doorstep

The duo behind restaurant Bahari in Richmond have recently launched a new venture, called Phlavour, ‘Mediterranean Ready Meals.’

Webinar for Greeks abroad tackles key tax issues and draws hundreds

The first TaxWebinar dedicated exclusively to Greeks abroad and tax residents of other countries was held on Wednesday, July 9.

From passports to tax reform: Loverdos sets agenda ahead of Australia visit

Loverdos has confirmed that he will be visiting Australia from 8 to 26 October, acknowledging the government’s absence from the country.

‘I’m not done yet’: Ange Postecoglou reflects on heritage and coaching dreams

Ange Postecoglou sat down with The Greek Herald to reflect on his philosophy and his cultural heritage. Read the interview here.

You May Also Like

On This Day: After 229 years of occupation, the last Turkish soldiers leave Crete

November 3, 1898, was a joyous day for all Cretans as the last Turkish soldiers left Crete after 229 long years of occupation.

Pandemic pushes Athens to bottom of EIU’s most liveable cities rankings

COVID-19 has shaken up the Economist Intelligence Unit's annual ranking of most liveable cities, propelling Auckland to first place.

Nick Kyrgios confirms he will feature in upcoming Netflix documentary series

Nick Kyrgios has confirmed his life is being filmed as part of an upcoming Netflix documentary series which will be released soon.