Take a tour of the most expensive house in Sydney: Spectacular Victorian mansion is on the market for a staggering $100million



Seven bedroom home in Point Piper, eastern Sydney, is expected to fetch $100 million

The mansion has been home to media moguls the Fairfax family for 122 years

Boasts a tennis court, stables and its back yard rolls onto the beach



The house has been on the market since September 2013

John B. Fairfax is reportedly selling the home so a new family can 'enjoy it'




Sydney's most expensive property is expected to fetch a staggering $100 million when it is finally sold - a price that is out of reach for even many of the neighbouring residents in the affluent harbourside eastern suburb of Point Piper, in which the sprawling mansion is located.



Those with mega cash to splash can make an offer on Elaine, labelled as 'the most significant residential estate to ever be sold in Australia'.



The huge white seven-bedroom house has been owned by media moguls the Fairfax family for four generations and 122 years.

Staggering: Elaine, labelled as 'the most significant residential estate to ever be sold in Australia', is expected to fetch $100 million

And it is just a stone's through from Wolseley Road in Point Piper, currently ranked as the 9th most expensive street in the world, at $38,900 per square metre.



It is only 5km from Sydney's city centre and is built on 1.72 acres of land, with private lawns that roll down onto Seven Shillings Beach.



The property, which is listed on Ken Jacob's real estate website, has seen some of Australia's most famous faces step through its grand doors for dinner parties and extravagant balls over the years.



'Erected in 1863 in the grand Victorian mansion style, Elaine's ballroom, numerous balconies boasting stunning Sydney Harbour views, and rolling gardens have played host to a bevy of important guests across four generations of ownership by one of Australia's greatest media families,' the website states.

Historic: The huge white seven bedroom house has been owned by media moguls the Fairfax family for four generations and 122 years Exquisite: This room with a view looks out onto the beach and is the perfect place to relax. Those with a passion for music can enjoy playing the piano in one of the mansion's many lounge rooms



Across three levels there are five bathrooms and the property's backyard boasts a tennis court and stables, perfect for the international elite.



The house also has the potential to be turned into a 'luxury apartment development' according to Mr Jacob.

And it is three times the size of the nearby Altona, which fetched $52 million when sold last year.



Speaking on 2GB radio in February, Mr Jacobs said: 'It's a lovely home but the value is like most things in the land. It's unrepeatable to get that land size again, if you tried to you would have to amalgamate six, seven, eight blocks or houses in Point Piper and that would be virtually impossible.'

Ocean view: The Victorian property connects straight onto Seven Shillings Beach via its rolling lawns, where residents can take their yacht out for the day or simply enjoy a refreshing morning dip

What a view: The house has three floors, allowing for magnificent views of the ocean, lush green garden and tennis court. And in the evening you can watch the sunset from one of the many balconies



Classic style: This elegant dining room will have 'played host to a bevy of important guests across four generations of ownership by one of Australia's greatest media families'

However, he believes it is still 'worth more in maintaining it as a family estate' in the long-run.



Talking about the type of person who might purchase the mansion, he explained: 'It's really interesting because everyone is speculating who will buy it.



'Clearly there are some local buyers who would be capable of purchasing the property and there are the Asian buyers, who I wouldn't rule out, but the thing that's been the real surprise is the enquiries that are coming through from the UK. We're getting quiet a few, whether they are expats or people who have a connection through business with Australia.'



Prime location: It is only 5km from Sydney's city centre and is built on 1.72 acres of land. The property's backyard boasts a tennis court and stables, perfect for the international elite



'Elaine is the priceless jewel of Sydney and the estate's attributes and deep-seated history are impossible to replicate, making this a truly unique opportunity to own a piece of Australian history – and to invest in its exciting future,' the property's website reads.

John B. Fairfax, the current owner of Elaine, bought a large portion of the estate for $3 million from his father, Sir Vincent Fairfax, in 1989.

However, John B. Fairfax cut financial ties with the media empire that bears his name by selling his 9.7 per cent stake in Fairfax Media for $193 million in November 2011.

He also retired from the board of the company in the same month.

When the house first went on the market in 2013, a Fairfax family spokesman told The Australian Mr Fairfax, 71, 'believed it was now time for a new family to enjoy it'.



The home was previously lived in by Lady Nancy Fairfax, but she moved out in 1994.



A source close to Mr Fairfax dismissed any rumours that the house was being sold because of the family's financial position.







