The historic estate Elaine located in the luxurious Point Piper suburb has been purchased for over $70 million by 37-year-old Australian billionaire Scott Farquhar.
The sale of the extravagant mansion broke the national house price record after it sold on Friday, having previously been owned by the Fairfax family since 1891.
New owner Scott Farquhar has significantly climbed the property ladder since buying his first home in 2006 for $1.41 million – a two-bedroom home in Prymont where he currently resides.
Mr Farquhar co-founded the software company Atlassian with his university friend Mike Cannon-Brookes in 2002 using $10,000 in credit card debt.
The business duo made their first entry onto the BRW Young Rich List in 2007 and nine years later, in 2016, topped the list with a combined net worth of $4.6 billion.
Mr Farquhar and his wife, Kim Jackson, are looking forward to raising their family in a place that holds a great sense of nostalgia to with the property having been home to generations of an iconic Australian family, he said.
Former owner John Breher Fairfax said the sale was an ’emotional day’.
‘I sold a home that has been in the Fairfax family since 1891. I am delighted it is being purchased in one line by an Australian family,’ he said.
Boasting a beautiful harbour view and situated on Seven Shillings Beach, listing agent Ken Jacobs, of Christie’s international also sold the property that held the previous number one house price record.
Source: Point Piper mansion sells for more than $70 MILLION | Daily Mail Online
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