Melbourne-based Anthony Pratt is reportedly spending $A21.3 million (USD$15m) on a 124-year old mansion in Bedford Corners, 65 kilometres north of Central Park.
The eight-bedroom, 18-bathroom home at 44 W Patent Road was offered by actors Michael Douglas and Catherine Zeta Jones who paid $A16m (USD$11.25m) in 2014 then renovated.
According to an advertisement, the dwelling features two indoor pools, a gym, sauna, spa and steam room.
The 5.4 hectare grounds contain another pool, tennis court, guest cottage with two apartments, greenhouse and collector’s garage.
The holding is also configured for horses with four paddocks, an outdoor riding ring, a four-stall barn and “direct access to miles of…trails on the Bedford Riding Lanes”.
Mr Pratt runs Pratt Industries, a major employer in both the United States and Australia.
In Melbourne’s Kew, the businessman and his wife, Claudine Revere, are constructing a contemporary home known as Raheen 3.
Mr Pratt’s father, the late Richard, bought the original Raheen, at 94 Studley Park Rd, in 1981.
Built in the 1870s for Edward Latham of the Carlton Brewery, and later owned by barrister and solicitor Sir Henry Wrixon, the property would be worth over $100m should it be listed, agents say.
Mr Pratt Senior and his wife, Jeanne, also built a modern home near the red brick mansion – known as Raheen 2.
Architect Glen Murcott penned both of them.