Boomerang, the $60 million Elizabeth Bay harbourfront offering
Sydney's finest Spanish mission-style trophy home, Boomerang is for sale with $60 million expectations.
Lindsay Fox, the Melbourne-based billionaire trucking magnate, has held the Elizabeth Bay landmark harbourfront home since 2005, mostly utilised by son Andrew, who heads Linfox's property division.
It was bought for $20 million.
The Billyard Avenue property has been offered quietly through the Ray White Double Bay office who seemingly don't value it as a record setting property anymore.
The Hollywood-style mansion has often been ranked as the most expensive house in the country.
It was the first property to crack the $20 million level.
It was also the first Sydney home to fetch more than $1 million when sold by the original owners in the 1970s.
The Fox family have preserved the home interiors, with the noticeable different outside, having commissioned landscape designer Myles Baldwin gardens on the 4200 sqm estate.
It was built at a cost of 60,000 pounds for music book publisher (Sir) Alexis Albert, who lived there until he died in 1962 with it then being vacant for more than a decade.
Perth-based developer Warren Anderson owned it from the mid 1980s until 1993, when he was evicted by the Bank of New York and it was sold by the mortgagee to the now jailed fraudster Nati Stoliar for $6.6 million.
Then merchant banker Malcolm Turnbull was interested at the time, underbidding at its 1993 auction, for the home with its majestic Moorish porte cochère, arcaded loggias, oak panelled library with Tudor-style fireplace and its so-called peacock room conservatory.
Australia’s record house price was set last August at $70 million when James and Erica Packer sold their Vaucluse mansion, La Mer to Chinese-Australian businessman Dr Chau Chak Wing.
Victoria's priciest home remains the Spanish Mission Portsea clifftop home, Ilyuka which was sold to the Higgins family at $26 million in 2010 exchange by the former Computershare director Michele O'Halloran.
The 1930s Spanish Mission house, marketed by veteran agents Ross Savas and Gerald Delany, is a sprawling house built for American oil tycoon Harry Cornforth in 1929-30.