Techie paid mil­lions more

The Sunday Telegraph (Sydney) - - INSIDER -

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.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.