Edward Craven, co-founder of Stake.com and owner of Easygo Solutions, buys $80m Toorak mansion on St Georges Road

Edward Craven, co-founder of Stake.com and owner of Easygo Solutions, buys $80m Toorak mansion on St Georges Road

“They’ll be working with somebody soon to do the design,” she said. “It’s a long-term project to get this built – years down the track.”

The sale shows that the reported slowdown across the rest of the Melbourne market is not affecting the top end, where another premium site at 17 St Georges Road is on the market with a $65-$70 million asking price.

The 10-bedroom house on 7800 square meters is currently listed as under offer, and sources who declined to be identified said a price above the guide range had been agreed.

Marshall White’s Marcus Chiminello, who is marketing both properties, confirmed the sale of 29-31 St Georges Road but would not comment about progress on 17 St Georges Road.

Mr Craven currently lives in the two-level Orrong Road property that he purchased from the Deague Group chief executive William Deague and his wife Nat.

Ms Easterbrook declined to say if he would sell that once the new home at 29-31 St Georges Road was complete.

The vendor of the property was property developer Ausvest Holdings director David Yu – the father of restaurateur Davis Yu – who reportedly put the property, with an unfinished mansion he had started building, on the market in February 2020 with an $80 million asking price. Mr Yu paid $5 million for the site in October 1991, records show.

An investigation by The Age and the Sydney Morning Herald Last year revealed that Easygo is the company behind Stake.com, the shirt sponsor of English Premier League team Watford.

While interest rates are putting a dampener on the mortgage-belt housing market, those at the top suffer no such constraints.

Atlassian co-chief executive Scott Farquhar and wife, investment banker Kim Jackson, have paid $10.85 million for a five-bedroom beach house at Avoca Beach on the NSW central coast – at a considerable discount to the $13 million guide price it had in February.

Meanwhile, Robin Khuda, the founder of data center operator Air Trunk, paid over $10 million last month to acquire the property adjoining his $20 million Balmoral Avenue home in Sydney’s Mosman.