Billionaire Munz family lists Toorak home

A Toorak home belonging to Melbourne’s billionaire Munz family has been listed for sale.

The Reliance Group plumbing family paid $8.05m in 2015 when buying from BMF construction’s Ian Wright.

Wright had bought it from Andrew Cannon, Australia’s honorary consul to Monaco, for $6.5m as a flip.

It had been the longtime home of his late father, Dr Rob Cannon, since the 1960s. Dr Cannon was a celebrity dentist with American business tycoon Howard Hughes among his clients.

The now updated Albany Street home has a price guidance of $11.5m-$12.5m from Kay & Burton agents Michael Gibson and Robyn Feigen.

Set in 1245sq m of gardens, it has four bedrooms, three bathrooms and a number of reception rooms.

The Munz family joined the Melbourne billionaire ranks in 2016 after they listed Reliance Worldwide on the ASX.

This article was first published in The Weekend Australian.