Fairwater snapped up by billionaire Mike Cannon-Brookes

Fairwater snapped up by billionaire Mike Cannon-Brookes
Fairwater snapped up by billionaire Mike Cannon-Brookes

Tech billionaire Mike Cannon-Brookes and his wife Annie have bought Australia’s most expensive house, the harbour front 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.

It took just three weeks for the 1.12 hectare estate to sell.

The price has not been revealed since its sale last night, but it was expected to fetch somewhere between the $71 million paid next door to close to $100 million.

The sale coincides with a visit to Sydney from the US by Cannon-Brookes.

The billionaire was always tipped to be its likely buyer, and not just because Sydney estate agents had pinpointed his American wife as keen for an Australian trophy home.

His business partner Scott Farquhar paid $71 million next-door for Elaine on Seven Shillings Beach last year, which took three years to sell.

There was no formal website marketing for the home that dates back to 1881, but interested parties were being taken through the landmark home by Christie's International agent Ken Jacobs.

Last November when Fairwater was tipped as likely to come to market this year, Mike Cannon-Brookes was ranked as a likely prospect to secure the prized offering in an article in the Weekend Australian's Mansion Australia magazine. 

 

Fairwater snapped up by billionaire Mike Cannon-Brookes

 

More recently Title Tattle wrote on its listing that fellow Atlassian co-founder Mike Cannon-Brookes would no doubt be on Jacob's radar as a prospective buyer. He recently sold his Braelin, his Centennial Park trophy, for $16.5 million.

“Elaine and Fairwater are the golden girls of Sydney Harbour,” Jacobs said earlier this month.

The Atlassian co-founders' wealth is pegged at a combined $6 billion.

Atlassian was founded in 2002 using $10,000 in credit card debt.

“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.

Australia's most expensive home has hit the market which has reignited the optimistic obsession about a $100 million sale.

The Double Bay offering by the executors of the late Lady (Mary) Fairfax had been in the Fairfax media dynasty family since 1901 when Sir James Oswald Fairfax paid £5,350.

The two-storey, late Victorian mansion - which was designed by architect J. Horbury Hunt for stockbroker, Francis Joseph in 1881, is set on five subdividable blocks on exclusive Seven Shillings Beach. 

Elaine is a 6,900 square metre land holding, with Fairwater ranked  as the largest privately-owned harbour side landholding, spanning 11,210 sqm.

"Fairwater represents an extraordinary opportunity to acquire Australia’s most desirable residential holding," Jacobs said.

"The property’s appeal reflects its unquestionable position as Australia’s most revered and significant home. 

"It is remarkable that an estate offering such rare and unrepeatable features still exists in Australia today; this opportunity will not come again."

 

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