Billionaire, millionaire snap up trophy estates

The Albany Road home sold in March after 13 months.

Two trophy estates – one worth two and a half times the other – have found buyers high profile in business circles.

Mark and Lisa McInnes recently paid the Paules $36 million for Dunraven.

In Toorak, Findex founder Spiros Paule and his wife, Conny, can be revealed as the buyers of the long time Hains family home, also once owned by Sir Keith and Lady Elisabeth Murdoch, which sold last month.

The Craven family is paying $16 million for the Sapphire Beach property.

The deal for 35-39 Albany Road, worth $39 million, came after 13 months, a renovation and discount; initial price hopes were over $45m.

At the Korora border, Noorinya was listed with $30 million price hopes.

On 3611 square metres with a tennis court and pool, it contains a 1940 home with 10 bedrooms and seven bathrooms.

The original part was penned by Geoffrey Somers for Helen Wood, the daughter of pastoralist Alexander Creswick and widow of Victoria Racing Club vet Octavius Wood.

Between 1943-1944 the holding was owner-occupied by the UK high commissioner.

In the neighbourhood

In what is widely considered Toorak’s best street, the Paule’s immediate neighbours will include the Lew family, long-time owners of the c1876 Whernside, John Gandel, who developed his Bedford in the 1990s and David Fox, son of mining magnate Lindsay, who lives further up the road on the corner of Irving.

It is near that pocket we reported recently Nick Wakim secured two significant holdings (one made up of two properties), all up spending over $145m.

Kay & Burton’s Andrew Sahhar introduced the buyer to the Hains home; at the same time, he sold the Paule’s Dunraven mansion on Clendon Rd in the suburb to retail executive Mark McInnes and his wife, Lisa, for $36m, off-market.

It is speculated the couple’s incoming dwelling will be refurbished again.

Marshall White’s Marcus Chiminello represented the family of businessman David Hains who died last January.

Another property forming part of that businessman’s estate, in Byron Bay, sold 14 months ago to restaurateur Justin Hemmes, for over $17m (story continues below).

A billiards room overlooking the beach at Noorinya.

Ed Craven buys back home

Meanwhile, Jamie Craven, the father of Australia’s youngest billionaire, Ed Craven, 28, has swooped on Sapphire Beach’s landmark Noorinya (pictured, top), for $16m.

Justin Hemmes paid the Hains family $17 million for a Byron Bay home.

The result is a major discount on the c$30m former mining executive Nathan Tinkler was seeking when he listed the beachfront pile last June.

Covering 2.04 hectares, it includes a significant family home and two standalone villas – all up offering 15 bedrooms and 15 bathrooms.

The deal marks a return to the Coffs Harbour area for the family which moved to Melbourne in 2018.

Jamie Craven was born in Sydney.

Private beach access

Founder of amongst other businesses, Ed Craven, 28, has a net worth exceeding $2 billion.

In Melbourne, he is behind plans for a $100m-mansion on an c$80m Toorak pile acquired in late 2022.

The Sapphire Beach estate was developed in 2008 by ex-Microsoft executive Jaybe Ammons and his wife Shelley, who sold it three years later to Mr Tinkler for $11.5m. With private beach access, the holding includes a 25 metre lap pool and playground.

Sotheby’s James McCowan brokered the sale after a speculated c$25m deal mid-last year fell through.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of