This article is from the Australian Property Journal archive
ED Craven, Australia’s youngest billionaire and co-founder of cryptocurrency casino Stake.com, has hired Melbourne firm Paul Conrad Architects to overhaul the Toorak mansion he bought for an auspicious price of $80,000,088.
Craven stunned the market two years ago when he purchased the St Georges Road property for a Melbourne-record price, smashing the previous $52.5 million benchmark set by the sale of Stonington in Malvern.
In the same year, Craven bought an Orrong Road home, also by Paul Conrad Architects, from developer William Deague for $38.5 million.
The mansion at 29-31 St Georges Road had sat vacant for more than 30 years, and Craven will reportedly splash out $145 million to overhaul the home.
Works began in early February overseen by Melbourne building and developing firm Davies Henderson.
The rebuild will take approximately three years to complete.
