{"id":39935,"date":"2022-08-16T15:36:44","date_gmt":"2022-08-16T03:36:44","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=39935"},"modified":"2022-08-16T15:38:12","modified_gmt":"2022-08-16T03:38:12","slug":"27yo-buys-ghost-mansion-for-80m","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/27yo-buys-ghost-mansion-for-80m\/","title":{"rendered":"27yo buys \u2018ghost mansion\u2019 for $80m"},"content":{"rendered":"

PHOTO: The house is reportedly derelict and nicknamed a \u201cghost mansion\u201d.<\/strong><\/p>\n

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A 27-year-old man has just become the envy of every Australian after snapping up the second most expensive house in the nation\u2019s history.<\/p>\n<\/div>\n

In the past week, millennial Edward Craven forked out $80 million for a 10-bedroom 7187sq m property in Toorak, inner Melbourne<\/a>, along St Georges Road.<\/p>\n

Mr Craven co-founded crypto company Stake.com in 2017, a gambling platform that lets customers use cryptocurrencies rather than just fiat money to make punts on anything from sports betting to casino-style tournaments.<\/p>\n

In December last year, the operation was valued at around $1 billion.<\/p>\n

\"Adam<\/a><\/div>\n
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Melbourne real estate agent accused of taking rival\u2019s signs<\/a><\/h2>\n<\/header>\n<\/div>\n

Mr Craven\u2019s recent purchase sets a new Victorian record, way ahead of the famous\u00a0Stonington Mansion in Malvern\u00a0which sold for $52.5 million in 2018 and was up until now the most expensive house transaction in the state.<\/p>\n

In fact, the staggering price for his Toorak home was only beaten by a $100 million Sydney mansion that Atlassian co-founder Mike Cannon-Brookes bought in 2019.<\/p>\n

However, unlike those other multimillion dollar properties, the St Georges Road house is reportedly derelict and known as a \u201cghost mansion\u201d because it\u2019s been uninhabited for 30 years.<\/p>\n

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\"Edward<\/div>\n

Edward Craven has kept a low profile but is one of the richest millennials in Australia.<\/strong><\/em><\/p>\n<\/div>\n

Then-Hoyts boss Leon Fink owned this \u201cghost mansion\u201d decades ago and started building a French Renaissance-style mansion on the block.<\/p>\n

However, when recession hit in the 1990s, he sold it half-built.<\/p>\n

In 1991, David Yu, the director of a property development group called Ausvest Holdings,\u00a0bought the incomplete Toorak home for $5 million.<\/p>\n

\"Nadia<\/a><\/div>\n
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Nadia Bartel plans to renovate her $3.15 million Melbourne home<\/a><\/h2>\n<\/header>\n<\/div>\n

Mr Yu reportedly tried to subdivide the landing into nine lots in 1992, but the application and the house remained untouched and empty until now.<\/p>\n

In 2020, the house hit the market with a $80 million price tag, and now, two years later and 31 years since its last purchase, the mansion has changed owners.<\/p>\n

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\"The<\/div>\n

The house is reportedly derelict and nicknamed a \u201cghost mansion\u201d.<\/strong><\/em><\/p>\n<\/div>\n

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\"It<\/div>\n

It hadn\u2019t been inhabited for 30 years prior to the sale.<\/strong><\/em><\/p>\n<\/div>\n

This is not the first time Mr Craven has made headlines for splashing his cash.<\/p>\n

In March,\u00a0Mr Craven spent $38 million on another Toorak mansion, a luxury four-bedroom, four-bathroom, three-car-garage, 2000sq m home, in Orrong Road.<\/p>\n

\"Carrie<\/a><\/div>\n
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The Project\u2019s Carrie Bickmore quietly sells her $3.4m five-bedroom Melbourne home<\/a><\/h2>\n<\/header>\n<\/div>\n

At first the sale price was undisclosed, although on Instagram the real estate agent said there were \u201calmost 40,000,000 reasons to celebrate\u201d.<\/p>\n

He was 26 at the time.<\/p>\n

It\u2019s unclear if Mr Craven plans to move into his newer, even more expensive property.<\/p>\n

He and his wife Nat currently reside in their Orrong Road home.<\/p>\n

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\"The<\/div>\n

The $38 million mansion Craven currently lives in.<\/strong><\/em><\/p>\n<\/div>\n

Toorak itself has hefty price tags on its properties.<\/p>\n

Chemist Warehouse boss Sam Gance bought a house in Lansell Rd last year for $43 million.<\/p>\n

\"St<\/a><\/div>\n
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Is this the Melbourne suburb that feels most like Sydney?<\/a><\/h2>\n<\/header>\n<\/div>\n

Before that, tech entrepreneur Kogan.com founder Ruslan Kogan held the previous record of $38.8 million.<\/p>\n

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