Australia's richest neighbours reveal why they spent $171MILLION to live next door to each other – and their VERY surprising mode of transport to work

  • A property sold for $100million, becoming the most expensive home in Australia
  • The home has been owned by a prestigious family for more than a century 
  • Billionaire tech entrepreneur Mike Cannon-Brookes purchased the property 
  • Atlassian founder Mr Cannon-Brookes will move next door to Scott Farquhar 
  • Mr Farquhar is the co-founder for the $5.8billion tech company, Atlassian
  • The co-founders have revealed why they spent large to live next to each other

By Ben Hill and Greta Levy For Daily Mail Australia

Published: 19:09 EDT, 18 October 2018 | Updated: 19:17 EDT, 18 October 2018

A pair of best-friend billionaires have revealed why they chose to spend $171million on mega-mansions in order to live right next door to each other. 

The most expensive property in Australia was sold to Mike Cannon-Brookes, who  founded software company Atlassian with Scott Farquhar.

Mr Cannon-Brookes and his wife Annie reportedly purchased the $100million Point Piper property named Fairwater in September, which was formally owned by Lady Mary Fairfax.

Mr Farquhar purchased the neighbouring home for $71million in 2017 - reportedly paying for it entirely in cash.

Despite their massive wealth, the business partners have revealed they do not plan to drive together from their homes in Sydney's affluent eastern suburbs to the Atlassian office in the Sydney CBD. 

Their company is now worth $5.8billion, and is listed on the Nasdaq stock exchange.

Atlassian co-founder Mike Cannon-Brookes (left) has moved next door to business partner Scott Farquhar (right)

Despite their massive wealth, the business partners have revealed they do not plan to drive together from their homes in Sydney's affluent eastern suburbs to the Atlassian office in the Sydney CBD 

Despite their massive wealth, the business partners have revealed they do not plan to drive together from their homes in Sydney's affluent eastern suburbs to the Atlassian office in the Sydney CBD 

'I'm sure we'll come in the way we always come in - I catch the bus and the train into work,' Mr Farquhar told the Daily Telegraph.

'I think both of us at the moment are in that prioritising family state, so our kids get along with each other so it'll be great to have (Mr Cannon-Brookes' children) next door. '

Mr Farquhar said he balances family time with fundraising for charitable causes.

'For me there is work, and there's giving back to the community in both ways. Exercise is probably the other one after family... I get up early and exercise then,' he said.

After buying 'Fairwater', Mr Cannon-Brookes said his family was 'looking forward to continuing its legacy'. 

'We love the idea of raising our four young children in this historic property, filling the house and gardens with love and laughter through the years,' he told The Australian. 

Mr Farquhar purchased the neighbouring home for $71million in 2017 and it was later reported he had paid for the property entirely in cash

Mr Farquhar purchased the neighbouring home for $71million in 2017 and it was later reported he had paid for the property entirely in cash

The waterfront Sydney estate is now the nation's most expensive property bought in the country - smashing the previous record by almost $30 million.

The Point Piper estate had been in the Fairfax family since 1901 and is the largest block of privately held prime harbourside land left in Sydney. 

Christie's International were appointed by the trustees to sell the property after the death of Lady Mary Fairfax aged 95 last September, Domain reported.   

Ken Jacobs of Christie's International confirmed they would sell the 1.12 hectare property, dispelling rumours the significant site would be left to the people of NSW.

'It is remarkable that an estate offering such rare and unrepeatable features still exists in Australia today; this opportunity will not come again,' Mr Jacobs said, according to Domain.

 The most expensive propery in Australia has sold, with the estate once owned by Lady Mary Fairfax (pictured) believed to have fetched $100million

 The most expensive propery in Australia has sold, with the estate once owned by Lady Mary Fairfax (pictured) believed to have fetched $100million

The current Australian record for a single residential property is the neighbouring Elaine, which fetched $71 million when it was sold last year, but Fairwater is considered much more valuable.

'When Fairwater's sister property Elaine came to the market, it set a new benchmark, yet Fairwater is over 4100 square metres larger. They are truly the golden girls of Sydney Harbour,' Mr Jacobs said.

The adjacent property, known as Elaine, was sold for $71 million last year to billionaire Scott Farquhar, who is a founder of software company Atlassian, and is about 60 per cent smaller in size.

Both properties front New South Head Rd and back onto Sydney Harbour, however, Fairwater has better views from its more northern position.

The property last sold for £5350 in early 1901 when Sir James Oswald Fairfax bought the two-storey house.

It has been in the Fairfax family ever since, with Sir Warwick Fairfax inheriting the property.

The New South Wales government stands to make about $6.9 million in stamp duty from a $100 million deal.

The home has been in the Fairfax family for more than a century, up until Lady Mary Fairfax (pictured) died at the age of 95 last September

The home has been in the Fairfax family for more than a century, up until Lady Mary Fairfax (pictured) died at the age of 95 last September

The two-story house is found in the affluent waterside suburb of Point Piper (pictured)

The two-story house is found in the affluent waterside suburb of Point Piper (pictured)

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Billionaire founders of tech giant reveal why they spent $171MILLION to live next door to each other

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