Australian Mansion Sets Record as Country’s Most Expensive Home Sale

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A historic Sydney mansion that belonged to the family that founded a monumental Australian publishing company, just sold for a record-breaking $70 million Australian dollars (US $52.7 million), according to a press release by Christie’s International Realty.

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Located on the harbor in Point Piper, the Victorian-style estate, “Elaine,” was the most expensive home sale in the country.

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The Fairfax family, who owned the residence for 126 years, are the founders and former owners of Fairfax Media, one of the largest media companies in the country, with The Sydney Morning Herald and The Canberra Times, among its publications.

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Scott Farquhar, 37-year-old co-founder of tech company, Atlassian, was the buyer.

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Built in 1863, the estate is situated on 1.72 acres, with over 142 feet of water frontage on Seven Shillings Beach.

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With a magnificent ballroom, balconies, expansive gardens, and a tennis court, the three-story residence has hosted numerous prominent guests over the years.

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The listing was held by Ken Jacobs of Christie’s International Real Estate.

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Images courtesy of Christie’s International Real Estate

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