Owned by the Fairfax family, one of Australia’s most famous media dynasties, “Elaine” is set to break all previous price records in the local market. Based on independent sources, it is expected that the achieved sale price will be in the region of AUD $80-$100 million, exceeding the highest luxury residential sale of AUD $52 million. The stunning mansion is available for sale for the first time since 1891 by Christie’s International Real Estate.
The residence is a grand Victorian mansion, only four kilometers away from the city center, on a location prized across the world. Built in 1863, “Elaine” offers seven bedrooms, seven bathrooms, a ballroom, stables and a grass tennis court. Its vast and elegant gardens have played host to some of the city’s most glittering and important private events while home to four generations of one of the world’s longest-serving media families.
The coveted, north-facing estate sweeps down to a secluded harbor pool and beach on Point Piper, Australia’s premier address. The land, comprised of six separate titles totaling 6,980 square meters, is not listed on State Heritage Register or National Trust, but is zoned Residential 2B, which allows the opportunity to build luxury apartments of a level not previously available in Australia.
Expected Sale Price: AUD $80-$100 million
