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The billionaire boss of the Chemist Warehouse discount pharmacy chain is preparing for a fire sale like no other.
Sam Gance, who founded the budget chain with brother Jack, will open one of his Toorak mansions to the public as he offloads millions in furniture, artwork and antiques.
Gance, who is also the partner of Real Housewives of Melbourne star Janet Roach, upgraded to a $43million mega-mansion in the posh suburb’s prestigious Lansell Road in 2021.
The sale set a new record for the most expensive home ever sold at auction in Australia.
As a result he is now selling the contents of his previous home on nearby Struen Street which he paid $3.6million back in 1990 and has been renting out for the past two years at $12,500 a week.
Chemist founder billionaire Sam Gance’s Struen Street home in Toorak which will likely stay in the family following the auction of its prestigious contents
Sam Gance with long-term partner and Real Housewives of Melbourne star Janet Roach
As a result he is now selling the contents of his previous home on nearby Struen Street which he paid $3.6million back in 1990 and has been renting out for the past two years at $12,500 a week.
Everything inside the treasure trove, which includes 17th and 18th century European furniture as well as contemporary artworks, will go under the hammer.
Melbourne auction house Gibson’s is handling the sale – scheduled for early May – with CEO Jennifer Gibson describing the collection as ‘prestige’.
Some of the artworks and furniture which will go under the hammer in May
The stunning home will be open to the public for the auction, with bidding expected to be ‘competitive’
‘Gibson’s is proud to have been entrusted with items from this prestige collection, amassed over the last 35 years of Sam and his family’s life at this fantastic property,’ she told Daily Mail Australia.
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‘The collection shows someone with exceptional taste and includes very impressive examples of 17th and 18th century English & European furniture, antiquities, alongside contemporary works of art.
‘We expect fiercely competitive bidding in the room on the evening of the auction and look forward to a successful sale.’
Gance’s Struen Street home which he has been renting out for the past two years for $12,500 a week
In 2022, My Chemist Group owners Jack and Sam Gance’s estimated wealth sat at $1.57billion.
The company is also part-owned by fellow rich-lister Mario Verrocchi and family.
Known for offering cosmetic, health and other goods at a discounted rate, Chemist Warehouse has enjoyed an increase in yearly revenue which nearly doubled during the pandemic.
Despite the current cost of living crisis, the chemist giant managed to bring in a gross profit of over $1.07billion in 2021 with a total revenue of over $3.07billion.
The same year Sam and Janet snapped up their new five-bedroom mansion at Lansell Road in a private auction against one other bidder.
Gance’s new property on Lansell Road in Toorak set a new record for most expensive home sold at auction in Australia
Gance’s new pad featured a cinema (above)
Set on 3330 square metres of gardens by leading designer Paul Bangay, the home features a cinema room, outdoor leisure centre and entertainment rooms.
The same year Sam and Janet snapped up their new five-bedroom mansion at Lansell Road in a private auction against one other bidder.
Source: | This article originally belongs to Dailymail.co.uk
