Meanwhile In Australia – Sydney mansion ‘Elaine’ set to smash property price record; Upwards of AU$100 Million

Fairfax family mansion

The Fairfax family’s prestigious Sydney mansion is expected to break Australian property price records when it goes on the market in a few months.

Geoffrey Fairfax bought the eastern suburbs mansion known as “Elaine” in 1911 for 2100 pounds.

It sits on six titles on a waterfront site in the exclusive suburb of Point Piper.

The seven bedroom mansion has its own ballroom and stables and is expected to fetch upwards of $100 million.

Christie’s International real estate agent Ken Jacobs is reluctant to speculate on the final selling price but says property will easily exceed Australia’s current record sale price of $57.5 million.

“It’s 6900 square metres of waterfront land on Sydney Harbour and it’s in six different titles – there’s been no parcel of land come to the market of that size, that’s what really sets it apart,” he said.

“It’s quite unique, it’s the best property ever to come on to the market in Australia.”

Mr Jacobs says they will begin a major international advertising campaign to market the property in the coming months.

“There’s an added value because of the opportunities that it offers to someone that wants a major estate or it could be a family compound,” he said.

“My feeling is that the likely outcome will be to a single buyer or family.”

Source:ABC News Aust

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