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A technology billionaire and his wife are the new owners of Australia's most expensive home.
Atlassian (TEAM) Co-founder Mike Cannon-Brookes and his wife Annie bought Fairwater, a vast waterfront property in Sydney, owned by the Fairfax publishing family for over a century.
An Atlassian spokesman confirmed the purchase but declined to reveal the amount paid. The Australian Domain website said the final price could exceed $ 100 million ($ 72 million), making it the most expensive home ever sold in the country.
"We are delighted to purchase Fairwater for our young family and look forward to continuing the legacy of this beautiful Sydney home," the couple said in a statement.
"We like the idea of raising our four young children in this historic property, filling the house and gardens with love and laughter over the years," they added.
Related: Where does the US real estate market go? 4 things to know
Fairwater is the largest private property of Sydney Harbor, according to Domain.
The historic house was last occupied by Mary Fairfax, the third wife of media mogul Warwick Fairfax. Mary Fairfax died in 2017 at the age of 95.
Housing prices in Sydney have nearly doubled in the last decade, from an average of $ 465,030 ($ 336,000) in March 2008 to $ 878,325 ($ 634,630) in March 2018, according to CoreLogic. .
Foreign buyers, including many Chinese, and low interest rates have contributed to the dramatic rise in prices.
Cannon-Brookes founded Atlassian with Scott Farquhar, who last year bought a neighboring house for 71 million Australian dollars ($ 51 million), according to Domain.
The two entrepreneurs, who share the title of chief executive officer at Atlassian, launched the enterprise software business in 2002. The company now has more than 2,500 employees and was listed on Nasdaq in 2015 .
According to Bloomberg, Cannon-Brookes is the 261st richest person in the world with a net worth of $ 6.4 billion.
– Jethro Mullen contributed to this report.
CNNMoney (Dubai) Posted on September 27, 2018: 8:55
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