Two of Melbourne’s richest men, Ed Craven (left) and Dennis Bastas (right), are tackling mega-builds likely to become the city’s most expensive homes.
The billionaire owner of Melbourne’s most expensive residence, pharmaceuticals boss Dennis Bastas, has put in for an $11.6m revision to his mega Toorak renovation.
It comes as Bastas’ chief rival for Melbourne’s priciest address, crypto casino billionaire Ed Craven, has been approved for a change at the St Georges Rd property where he’s building what is expected to wind up as a $200m home.
Bastas is DBG Health, Arrotex Pharmaceuticals and myDNA chair.
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His wife’s name was recently added to the title of historic mansion Coonac sold to the pair in a $124m deal, has recently put in for an $11.6m variation to his already $38.5m renovation plans for the property.
It is listed as seeking an extension to the dwelling of 500sq m or more as part of an application lodged on June 19.
The change has been put forward as a Secondary Consent Amendment to approved plans, according to the Stonnington Council’s planning website, a process used for small changes to already-approved plans that does not require them to advertise.
The Toorak home pharmaceuticals bigwig Dennis Bastas bought from ex-Essendon boss Paul Little.
Dennis Bastas is the chairman and group chief executive of DBG Health. Picture: NewsWire / Aaron Francis.
The house is set behind a tall fence and secure gates in a private part of the suburb.
Stonnington Council have yet to rule on whether they will approve the amendment, which would add more than a quarter again to the renovation’s cost, as it is being sought.
They could also require it to go through more stringent processes including advertising the specifics of the revision.
In addition to their $124m purchase of Coonac, the Bastas’ also bought a neighbouring apartment block for $12.1m.
They have since been granted a $38.5m permit to renovate the mansion formerly owned by business mogul and ex-Essendon Football Club president Paul Little and his University of Melbourne chancellor wife Jane Hansen.
A render showing the future St Georges Rd home being built by Ed Craven.
Ed Craven is the crypto-casino billionaire behind the build. Picture: Jake Nowakowski.
The basement being dug in for the mansion. Picture: Wayne Taylor.
The original plans called for a 10-car underground garage, staff quarters, a wine-cellar, billiards room, salon and wellness space.
Meanwhile, crypto-casino richlister Mr Craven has this week been approved to “destroy or lop” a tree on the St Georges Rd site of his $150m renovation project of a former ghost mansion which stood vacant for several years.
He bought it for a then-record of $80.88m in 2022.
Mr Craven’s plans include a leisure facility with its own gym, basketball court, snack rooms and possibly a tennis court.
It would also have dedicated staff quarters, dog wash rooms and guest parking areas.
The design is being overseen by architect Paul Conrad and landscape designer Paul Bangay is handling its gardens.
It is thought the mansion could be worth $200m once completed.
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