Australia markets open in 9 hours 15 minutes
  • ALL ORDS

    6,905.30
    +248.90 (+3.74%)
     
  • AUD/USD

    0.6466
    -0.0053 (-0.82%)
     
  • ASX 200

    6,699.30
    +242.40 (+3.75%)
     
  • OIL

    85.80
    +2.17 (+2.59%)
     
  • GOLD

    1,719.00
    +17.00 (+1.00%)
     
  • BTC-AUD

    31,038.72
    +1,188.16 (+3.98%)
     
  • CMC Crypto 200

    456.04
    +10.60 (+2.38%)
     

Australia's most expensive home sold for $100m

One of Australia’s richest men has just snapped up Australia’s most expensive home at Point Piper, costing a rumoured $100m.

Mike Cannon-Brookes, the 38-year old billionaire co-founder of tech software giant Atlassian and his wife Annie, finalised the acquisition of Fairwater on Wednesday, the 1.12 hectare Sydney harbourside mansion, Domain reports.

Also read: The 25 most in-demand Aussie start-ups

Cannon-Brookes will be in good company – his business partner and co founder of Atlassian, Scott Farquhar, owns the house next door, also smashing the record for the price paid for a property last year, when he forked out $71m for the home, ‘Elaine’ also owned by the Fairfax family.

The plush neighbourhood, one of Sydney’s most expensive, counts former Prime Minister Malcolm Turnbull among its residents.

The largest price paid for an Australian home ever – if the $100m figure is correct – ends of 100 years of ownership of the heritage jewel property by the Fairfax family. The eye-watering price also defies the current property downturn, which has seen prices slump across most Australian states.

The waterside heritage mansion was sold by the executors of Lady Fairfax, who died last year aged 95. The Fairfax dynasty made their fortune as owners of the Fairfax media company, including titles Sydney Morning Herald.

Also read: The suburbs where property values halved since 2008

It had been rumoured that Lady Fairfax had left the property to the people of New South Wales, but the private sale appears to suggest this was not the case.

The harbourside home was listed by Christie’s International Real Estate just earlier this month.

The Cannon-Brookeses said they were “delighted with the purchase of Fairwater for our young family and look forward to continuing the legacy of this beautiful Sydney home,” in a statement.

“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 Cannon-Brookeses recently sold their home Braelyn, near Sydney’s Centennial Park, for $16.5 million.

Also read: Labor tax plan could cut 9% off retiree savings