Techie paid millions more
Fairfax family sources yesterday insisted Atlassian’s billionaire co- founder Mike Cannon- Brookes has paid millions more than the $ 100 million reported to buy the Point Piper house next door to his tech “brother” Scott Farquhar.
While on Thursday property writers put the unconfirmed price for Fairwater ( inset) at $ 100 million, sources yesterday stated the pricetag for the historic house is $ 110 million — hardly a problem for Cannon- Brookes, whose personal wealth has been put at $ 9 billion.
Cannon- Brookes was first rumoured as a potential buyer the same week the 130- year- old property was listed for sale in early September with Ken Jacobs of Christie’s International.
Sources yesterday said Cannon- Brookes initially became smitten with his friend Farquhar’s new home, Elaine, next door. The Farquhars, Scott and wife Kim Jackson, bought the home for $ 71 million in a cash deal last year. They suggested Cannon- Brookes had expressed interest in Fairwater, the former house of Lady Mary Fairfax, before the house went on the market. Based on the price paid for Elaine, which sits on a waterfront parcel of 7000sq m and was previously owned by John B. Fairfax, the cousins next door, Lady Fairfax’s heirs, valued their property at $ 110 million. The house sits on 1.12ha.
Fairfax family members and Point Piper neighbours alike were this week relieved to hear Cannon- Brookes and his wife Annie planned to invest up to $ 20 million restoring and renovating the house and hoped to live there well into their dotage.
“It’s a great result for the neighbourhood. It’s been a long time since the two historic properties were held by the one family,” a neighbour said.