Most expensive home Down Under sold for $99 million

SYDNEY • Australia’s most expensive house, a sprawling harbourside estate in Sydney, has sold for about A$100 million (S$99 million), the Sydney Morning Herald reported.

The property was bought by billionaire Mike Cannon-Brookes, who is co-founder of software firm Atlassian Corp.

Fairwater, the former home of the Fairfax family, is the largest privately owned beachfront holding on Sydney Harbour, an 11,210 sq m estate just 5.5km from the city centre, according to Christie’s International, which handled the sale.

“We are delighted with the purchase of Fairwater for our young family and look forward to continuing the legacy of this beautiful Sydney home,” Mr Cannon-Brookes and his wife Annie said. “We love the idea of raising our four young children in this historic property, filling the house and gardens with love and laughter through the years.”

The estate, which had been on the market for less than a month, sold on Wednesday night, the Herald reported, citing unidentified sources.

At the reported price, the sale would smash the previous A$71 million record set by the Fairfax family’s neighbouring Elaine, which was sold to Atlassian’s other co-founder Scott Farquhar, said the Herald.

Source: Bloomberg