Fairfax director Patrick Allaway secures smaller Mosman home

The recently appointed Fairfax Media director Patrick Allaway has spent $3.95 million on a Mosman home.

The three-bedroom purchase marked a return to Mosman for Allaway and his wife Elizabeth following two years of city apartment ownership.

Their prior Mosman home was sold for $14 million in 2012 to UBS boss Matthew Grounds.

Their redundant apartment was sold late last year to the chief executive of Fairfax Media Greg Hywood for $4.1 million.

Set in The Residence overlooking Hyde Park, the media company boss bought the three-bedroom apartment directly from the Allaways, who had paid $2.8 million in 2013. Allaway has 30 years experience in the global finance industry.

This article was first published in the Saturday Daily Telegraph.