- Emergency crews responded twice after a fire and subsequent self-reignition damaged the vacant beachfront estate, which police are treating as suspicious.
- The property had recently secured council approval for a major redevelopment after changing hands for $16 million in 2024.
- Investigators are examining the incident while authorities stress there is no suggestion the Craven family was involved.
Police are investigating a suspicious fire that tore through a luxury Sapphire Beach mansion owned by Jamie Craven, father of crypto billionaire Ed Craven, shortly after approval was granted for a $29.8 million rebuild of the property.
Fire and Rescue NSW first attended the Korora estate at 5.40 pm on Tuesday after flames were discovered in part of the building. Several hours later, emergency crews were called back when the blaze flared again, with police believing the second outbreak resulted from a self-reignition.
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Beachfront Mansion Had Sat Empty
According to NSW Police, the house was vacant and unoccupied when the fire occurred and nobody was injured. Officers attached to the Coffs/Clarence Police District have commenced inquiries, with the incident being treated as suspicious.
Firefighters later described the beachfront mansion as derelict, reporting smashed windows, neglected gardens and signs of vandalism. Local residents also said vandalism had been a recurring problem around the property.
The 1.8-hectare estate was acquired for $16 million in 2024 after being marketed for $30 million. In June, council approved plans to demolish the existing residence and construct a replacement two-storey home with two in-ground swimming pools and a reflection pool.
Police have said there is no suggestion the Craven family is under suspicion over the fire.
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