Westbank,on Point Nepean Road in Sorrento,sold for $30 million in May last year but only settled this week,public records show.
Built about 1910,the grand home is set on more than 7200 square metres and was constructed from limestone quarried on the property.
The property has set records in the past,selling for $9.5 million in 2007 when the neighbour reportedly bought it and added a covenant that would protect his views from future development,before reselling a year later for the discounted price of $8.5 million.
The home offers stunning bay views and has previously been advertised with six bedrooms,garaging for four cars,wine cellars and boat shed.
The previous record for the Mornington Peninsula was the $26 million sale of Ilyuka in Portsea,set 10 years ago.
In an off-market deal,the home was purchased in the name of a corporate entity linked to a lawyer’s trust,although the new owneris said to be private equity boss Ben Gray,founding partner of BGH Capital,according to a source with knowledge of the deal but not authorised to speak publicly.