The sale came after the family had to dip into its own pocket to underwrite a capital raise for ASX-listed home builder Simonds Group.
The Simonds family has secured a significant luxury sale in Melbourne after selling a new five-bedroom Toorak home for almost $12 million to a local family.
The Simonds family paid $4.9 million for 10 Torresdale Road in October 2020, knocking down the original home on the 595-square-metre block and building a three-level home with four bedrooms, pool, garden and al fresco dining area. Eligible shareholders and rights holders took up just $1.5 million of the $25.5 million worth of new shares the company issued late last yearand keep trading through difficult conditions that it said would not improve until 2024.
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