Jun 23, 2026 – 4.06pmWatch and Lego retailer James Kennedy is set to become neighbours with David Deague after buying the $21 million top-floor penthouse adjacent to one the veteran developer acquired in a newly completed luxury apartment building in prestige Melbourne’s Toorak.Kennedy, who built the Sydney watch business his parents founded in the 1970s into one of the country’s highest-profile luxury retail chains and who last month expanded into Lego with a $50 million deal, acquired the second penthouse in the three-floor building.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Luxury watch retailer James Kennedy joins Toorak’s penthouse set
The high-profile retailer has taken the top floor of a newly completed boutique apartment project in Melbourne’s most prestigious suburb.
TL;DRAI
James Kennedy, luxury watch retailer, bought the $21M penthouse in Toorak after his $50M Lego expansion. While signaling retail diversification, this real estate acquisition has limited relevance to IT managers' tech decisions.
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