A multimillion-dollar beachfront estate in New South Wales, owned by the father of Australian online gambling billionaire Ed Craven, has been completely destroyed by a suspicious fire, coming just two weeks after local officials approved a major $30 million redevelopment plan for the property. The 15-bedroom, 15-bathroom Sapphire Beach mansion, located on a sprawling 1.8-hectare block with exclusive access to a private beach stretch in the small coastal community of Korora, caught fire twice within hours on Tuesday, emergency services confirmed.
Coffs Harbour Fire and Rescue first responded to the scene at 5:40 p.m. after reports of smoke billowing from the vacant building, extinguishing what crews initially described as a small, contained blaze. But less than seven hours later, shortly before midnight, multiple emergency calls from nearby residents brought firefighters back to the property, after the fire unexpectedly re-ignited and spread rapidly through the unoccupied structure.
The property has a high-profile ownership history: it was originally developed and owned by Australian mining magnate Nathan Tinkler, who listed it for sale at an asking price of $30 million before Jamie Craven, father of 30-something billionaire Ed Craven, purchased the estate in an all-cash $16 million deal in early 2024. Even at a discount to Tinkler’s original asking price, the sale marked the most expensive transaction the suburb has ever seen — the home’s price tag was more than four times higher than the second-most expensive property ever sold in the area.
Earlier in June, Coffs Harbour City Council formally approved Jamie Craven’s $29.7 million redevelopment proposal, which would have demolished the existing mansion to make way for a custom two-story luxury residence, complete with two in-ground swimming pools and a 300-millimeter deep reflection pool. Construction had not yet begun at the time of the fire, leaving the property abandoned and unoccupied.
NSW Police confirmed in a statement Wednesday that no injuries have been reported from the incident, as the home had been empty since the sale was finalized. Investigators from the Coffs/Clarence Police District have launched a formal probe into the blaze, which is currently being treated as suspicious. Local media reports from nearby residents note that vandalism has become an increasingly common issue for empty homes in the area, and police have emphasized there is no suggestion at this time that the Craven family has any connection to the fire.
The devastating loss comes as a major surprise to the local coastal community, where the high-profile purchase and redevelopment plan had drawn significant public attention in recent months.