A tech billionaire and his mother are a new owners of Australia’s many costly home.
Atlassian (TEAM) co-founder Mike Cannon-Brookes and his mother Annie have purchased Fairwater, a sprawling waterfront estate in Sydney that was owned by a Fairfax edition family for over a century.
A orator for Atlassian reliable a squeeze though declined to exhibit how most was paid. Australian skill website Domain pronounced a final cost could surpass 100 million Australian dollars ($72 million), creation it a priciest home ever sole in a country.
“We are gay with a squeeze of Fairwater for a immature family and demeanour brazen to stability a bequest of this pleasing Sydney home,” a integrate pronounced in a statement.
“We adore a thought of lifting a 4 immature children in this ancestral property, stuffing a residence and gardens with adore and delight by a years,” they added.
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Fairwater is a largest square of private skill on Sydney’s harbor, according to Domain.
The ancestral home was final assigned by Mary Fairfax, a third mother of media lord Warwick Fairfax. Mary Fairfax died in 2017 during a age of 95.
House prices in Sydney have nearly doubled over a past decade from an normal of 465,030 Australian dollars ($336,000) in Mar 2008 to 878,325 Australian dollars ($634,630) in Mar 2018, according to CoreLogic.
Foreign buyers, including many from China, and low seductiveness rates have helped to fuel a thespian cost increases.
Cannon-Brookes founded Atlassian with Scott Farquhar, who bought a adjacent home final year for 71 million Australian dollars ($51 million), according to Domain.
The dual entrepreneurs, who share a pretension of CEO during Atlassian, started a craving program organisation in 2002. The association now has more than 2,500 employees and was listed on Nasdaq in 2015.
According to Bloomberg, Cannon-Brookes is a world’s 261st richest chairman with a net value of $6.4 billion.
— Jethro Mullen contributed to this report.