A Melbourne CBD home unchanged since 1850 has gone under the hammer for the first time in more than a century.

The house on the corner of King and LaTrobe streets, which was lived in by actress Lola Russell, has not been updated for 171 years, making it one of the city's littlest and oldest homes.

The historic building is littered with deep cracks, scaffolding outside and graffiti and water damage inside.

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Bars have been placed on the windows to ward off squatters, with constant break-ins and a serious fire at the building in the last year.

While the building is surrounded by skyscrapers, heritage rules mean no redevelopment will be allowed.

The limited options for the property meant bidding started low, but the final price came in at $1.875 million for the 130 square metres.

It was bought by a Melbourne-based investor who is not sure exactly what the home will become but has committed to significantly restoring it.

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Much-loved technology entrepreneur and Cygnett founder Tim Swann has died following a motorbike accident on Saturday.

Mr Swann, aged 47, launched digital accessory giant Cygnett with his sisters Sophie Swann and Amie Newling-Ward from their Melbourne base in 2003.

Today, Cygnett is a worldwide business, selling products in over 200,000 retail outlets across 42 countries.

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Mr Swann is survived by his loving wife Kimberley Swann (nee Bunning) and their two young sons.

He comes from a rich vein of Australian technology entrepreneurship, with his father David Swann founding Swann Communications, now known as Swann Security.

Cygnett's CEO Paul Santoro said Mr Swann's energy was infectious to every person he met.

"Tim was a natural entrepreneur, a dynamic innovator and a visionary leader. He truly lived life to the fullest," says Santoro.

"Tim's incredible energy inspired everyone he met. His passion for business was only matched by his passion for his family and his lifelong appetite for skiing, watersports and travel."

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Mr Swann's sister and Cygnett co-founder Sophie Swann said he was universally adored.

"Tim was a devoted and hands-on father and loving husband, a mentor and role model as an uncle and godfather, a respected and supportive son, a caring and nurturing brother and a steadfast and collaborative business partner," Ms Swann said.

"He was universally adored, a trusted friend to so many and will be so missed."

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An investigation is underway after a toddler was found unresponsive in a home in Victoria's east and had to be put on life support.

Police say they are still searching for information as to how the 22-month-old girl received serious head injuries almost two weeks after she was rushed into intensive care.

Detective Senior Sergeant Geoffrey Rumble said the little girl's mother and the mother's friends took her to Latrobe Regional Hospital "in a very unresponsive state" about 10.45pm on Friday, November 12.

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He said the toddler had been found at a house on Ashworth Drive, Traralgon where she had received serious head injuries.

The girl was quickly transferred to Monash Hospital in Melbourne and placed on life support.

Senior Sergeant Rumble said almost two weeks later, the girl continued to be in a "very serious but stable condition".

"We just hope the child does recover," he said.

"We've got real concerns about the injuries that the baby suffered."

It is unclear if the injuries will have a permanent or long-lasting impact on the girl's life.

Senior Sergeant Rumble said police were still establishing what had occurred and how the child was injured.

He has called for anyone with information about the incident, or anyone who was in the area that night, to contact police.

"We want to give some answers to the family as to what happened."

Police searched the house where the girl was injured on Tuesday, seizing several items.

Senior Sergeant Rumble said police had also spoken to a number of Traralgon residents as part of the investigation.

Anyone with information is urged to call Crime Stoppers on 1800 333 000 or log into www.crimestoppersvic.com.au.

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