Parmalat boss Craig Garvin buys revamped Paddington terrace

Craig Garvin, boss of French-owned dairy company Parmalat, has settled on a revamped Paddington terrace.

The $7.2 million sale makes the contemporary residence the second most expensive in the suburb this year.

The home, which is set up for busienss and residential, has five bedrooms, five bathrooms and a vast office space on the ground level.

It last traded for $3.6 million in 2007. Craig and wife Linda have just sold their long-time Chatswood home pre-auction. It cost $1.14 million in 2005.

Agent Harriet France sold the home, advertising it as "melding Palm Springs modernism with Manhattan sophistication."

Garvin has been the chief executive officer at Parmalat since 2010.

Before joining Parmalat he held senior positions at Star City Hotel and Casino, Arnotts Biscuits and PepsiCo.

This article first appeared in the Daily Telegraph.