Fairwater, the Fairfax Point Piper estate quickly sold, most expensive house in Australia
Updated: Aug 12, 2019
LUCY MACKEN, Prestige property reporter for Domain, has just reported today, SEP 27, 2018 an exclusive story about the sale of Fairwater, Point Piper, or as the NSW Heritage Register points out, Fairwater's address is actually 560 New South Head Road, Double Bay, NSW 2028, taking it out of Malcolm Turnbull territory.
"Australia’s most expensive house, Fairwater, has sold, ending the Fairfax family’s hold on the exclusive stretch of "Point Piper" beachfront of more than a century.
It took a little more than two weeks for the 1.12 hectare estate to exchange, and sources say it is expected to transact at close to $100 million given how quickly it sold."
Fairwater sits on Seven Shillings beach at Double Bay.
For 20 years Fairwater was not expected to be sold after a report cited plans by Lady Fairfax to bequeath it to the people of NSW, but that report was never confirmed and the executors listed it with Ken Jacobs, of Christie’s International, earlier this month.
Mr Jacobs was unavailable for comment at the time of publication, but multiple sources said the property exchanged on Wednesday night.
Lucy Macken speculated that the sale coincides with a return visit to Sydney from the US by fellow tech billionaire and Atlassian co-founder Mike Cannon-Brookes and his wife Annie, widely touted as the most likely buyers of Fairwater.
PropertyObserver.com.au confirms the purchase by Mike Cannon-Brookes:
"Tech billionaire Mike Cannon-Brookes and his wife Annie have bought Australia’s most expensive house, Fairwater at Double Bay, ending more than a century of Fairfax family ownership.“We are delighted with the purchase of Fairwater for our young family and look forward to continuing the legacy of this beautiful Sydney home,” Cannon-Brookes 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 Cannon-Brookes said.
Lucy Macken writes that since It took a little more than two weeks for the 1.12 hectare estate to exchange, her sources say it is expected to transact at close to $100 million given how quickly it sold.
The $100 million sale smashes the $71 million record set last year by the Fairfax family’s Elaine estate next door sold by Mr Jacobs to tech billionaire Scott Farquhar, co-founder of the software giant Atlassian.
Billionaire Mike Cannon-Brookes buys Centennial Park mansion
Other pages about Fairwater on this website:
Oh NO!! Australia’s first $100 million sale September 8, 2018