An exclusive mansion in Sydney’s prime waterfront location is set to break all previous price records in the local market.
Owned by the Fairfax family, one of Australia’s most famous media dynasties, “Elaine” is expected to achieve a sale price 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 and its local Affiliate in Sydney, Ken Jacobs.
The residence is a grand Victorian mansion, only four kilometres away from the city center on a location prized across the world.
Built in 1863, “Elaine” offers seven-bedrooms, seven-bathrooms, 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 Fairfaxes.
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 totalling 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.
“Elaine” is the first Australian property to be included in Christie’s International Real Estate Bespoke Program, which handles the sale of only the very finest homes in the world.
Clayton Andrews, senior vice president of Christie’s International Real Estate, recently toured the estate and describes it as one of the most spectacular ever offered in the region.
“Standing on that site is truly an amazing experience,” said Andrews. “This is a spectacular historic mansion and the most significant residential listing ever to come on the Australian market.
“The harbor-front setting, and the knowledge that the scope is there to create something even more outstanding in the future, is really very exciting.”
Ken Jacobs, exclusive Sydney affiliate of Christie’s International Real Estate, said the property is simply “the finest ever”, adding it will likely be the largest holding ever to be to be sold into private hands on Sydney Harbour.
“Elaine is the most significant home ever offered in Australia and its real estate credentials, in combination with its extraordinary history, has created an incredible level of anticipation,” said Jacobs.
“The property does not come on to the market officially until the beginning of February but already I have been fielding inquiries from interested parties and the media from around the world for weeks.
“We have several overseas parties already scheduled to view the property immediately after the campaign begins. In light of that early interest, I am very much looking forward to seeing just what the next chapter holds for this amazing property.”
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