The record purchase of the long-vacant site has triggered criticism buyer Edward Craven overpaid in Melbourne’s most expensive suburb.
“The one good thing is it might bring a few vendors to the table,” Mr Morrell said.
The lack of constraints made the prospect of designing a new home on the site for Mr Craven exciting, he said. Render of a three-level, nine-bedroom, 11-bathroom home designed by Conrad Architects in the Water Mill Hamptons region in New York state. The rooftop lounge will have 180-degree views of the Atlantic Ocean.The build cost for the Water Mill residence was about $US15 million but in the US build costs were cheaper than Australia, he said.
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