Brisbane-based <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co Developments</a> has officially launched its $250million COMO apartment development in Varsity Lakes, while simultaneously commencing construction.&nbsp;

Building work is now underway at COMO following the appointment of <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a> as contractor to deliver the boutique development which will rise on a 2857 sqm site overlooking Lake Orr at 22 Lake Street.

When completed, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels located in the heart of Varsity Lakes.

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The project, which will sit alongside Bond University, will deliver a diverse array of apartment designs comprising one-, two- and three-bedroom residences that have already attracted interest from local and interstate investors as well as an array of owner occupiers looking to gain a foothold in the precinct.

Red &amp; Co, which has largely focused on the Brisbane market in recent years where it has delivered more than 500 apartments and townhouses across 26 projects, has designed COMO to combine tranquil, lakeside living with the vibrant urban convenience of the vibrant Varsity Lakes village.

“We’re thrilled to announce a start to construction of COMO in conjunction with the official launch of the project, our first for the Gold Coast,” said Red &amp; Co Director and Co-Founder David Laverty.

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“COMO is superbly positioned to capture the essence of the Varsity Lakes village lifestyle and its thriving café and dining precinct, while delivering a much-needed diverse supply of premium residences for the local market.

“Pre-launch inquiries have been strong among both local and interstate investors and owner-occupiers, including downsizers and upgraders who appreciate the value proposition that COMO represents.”

Prices at COMO start from $1,000,050.

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Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the COMO development incorporates an extensive range of amenities for residents including a 25-metre rooftop lap pool, sundeck, barbecue and dining areas, as well as multiple rooftop pickleball and paddleball courts, a wellness and activity centre, gym, sauna, plunge baths and landscaped gardens.

“COMO presents a rare opportunity to secure a stylish, lifestyle-focused home in one of the Gold Coast’s most sought-after neighbourhoods,” added Laverty.

“The rooftop will be the epicentre of fun for residents with an array of amenities for residents that are quite unique for a boutique project such as this, all while offering spectacular vistas across the Gold Coast as far north as Southport and south to Burleigh.”

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&nbsp;

Red &amp; Co has chosen the Varsity Lakes site for its proximity to top-tier schools, major shopping hubs, such as Robina Town Centre and its CBD offering, as well as key Gold Coast transport links, including Varsity Lakes Train Station.

COMO will be located just a short walk to shops, cafes and restaurants in Varsity Lakes and just a 10-minute drive to the Burleigh Heads beachfront.

With construction currently underway, Red &amp; Co anticipates COMO will be completed in 2028.

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Joel Robinson

Red & Co to launch debut Gold Coast development Como Varsity Lakes as construction commences

Longstanding Gold Coast developer Raptis has acquired a prime development site on Surf Parade for its next Broadbeach apartment project.

Progressing towards completion of <a href="https://www.apartments.com.au/new-apartments/the-sterling-broadbeach-6-8-george-avenue-broadbeach-qld-4218">The Sterling Broadbeach</a>, 90 apartments on nearby George Avenue, <a href="https://www.apartments.com.au/developers/raptis">Raptis</a>, led by second-generation family man Evan Raptis, has picked up a block on the corner of Surf Parade and First Avenue.

The site had been earmarked for a luxury apartment project with 33 full-floor apartments across a 37-storey tower. Raptis will go back to the drawing board and create a building more appropriate for the site. The development application will be lodged later this month.

Evan Raptis told Apartments.com.au the site ticks all the boxes.

"Broadbeach is a suburb we've developed several buildings over the years. Surf Parade ticks all the boxes for the type of apartment development we want to deliver."

Raptis had several pre-lodgement meetings with council to ensure they are aligned in the development.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="f0d58573-07a4-47a8-9f5e-fbf35fb03dc3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-05%20at%204.58.23%E2%80%AFPM.png?VersionId=iczZEd_4_o4UL0PHMPJGfy_q3tv96J5i" />

Surf Parade has emerged in recent years as one of the most popular streets in Broadbeach for development.

South East Queensland developer Mosaic Property Group kicked it off with Marella by Mosaic. Bassar Group sold out Infinity on the street, while for its&nbsp;first Gold Coast development, Polycell grabbed a Surf Parade site for <a href="https://www.apartments.com.au/new-apartments/the-rochester-broadbeach-143-surf-parade-broadbeach-qld-4218">The Rochester</a>, which is nearly sold out.

Melbourne-based developer Hirsch &amp; Faigen recently launched its fourth Gold Coast project on the exclusive strip. The Eveleigh Broadbeach will have 100 apartments across a 31-storey building designed by Rothelowman.

GV Property Group site development specialists Antonio Mercuri and Luke Reaby, who both amalgamate sites and sell shovel-ready sites to developers up and down the Gold Coast, sold Surf Parade to Raptis.

Raptis secures prime Surf Parade site for next Broadbeach apartment development

Less than two years after breaking ground, Gardner Vaughan Group is celebrating the topping out of Bask, its second development in the exclusive coastal enclave of Bokarina on Queensland’s Sunshine Coast.&nbsp;

Located only minutes from the beachfront, the two seven-storey luxury apartment towers, known individually as Mydas and Caretta, offer a selection of one-to-four-bedroom residences with views of Lake Kawana, the Glasshouse Mountains, and Bokarina Beach.&nbsp;

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Gardner Vaughan Group Commercial Director Sam Gardner said the milestone marks the home stretch for construction, with first residents expected to be able to move in from Spring 2026.&nbsp;

“This is a significant milestone in bringing this development to life and represents our confidence in this region’s long-term growth and appeal,” Gardner said.&nbsp;

“With 85 per cent of apartments already sold, buyers are joining an established, coastal village that offers the very best of the Sunshine Coast – seasonally patrolled surf beaches, renowned restaurants, and links to established health and retail.&nbsp;

“The final collection of three- and four- bedroom apartments range in size from 127sqm to 300sqm, each with two or three secure car parks and storage, and with construction fast approaching completion we don’t expect the last few apartments to remain on the market for long.”&nbsp;

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Local restaurateur Luke Stringer, who co-owns and manages the award-winning Bocca Italian and Playa Mexican restaurants in Bokarina, has lived in the beachside suburb for 18 months and worked there for more than three years, and said the beachside suburb was thriving.&nbsp;

“It’s fair to say Bokarina is finally stepping into the sun and there’s a lot to love about the place,"&nbsp;Stringer said.

"It’s such a great community, where you see the same smiling faces every morning and everything’s within easy reach – it’s the perfect hub in the middle of the Sunshine Coast.

“When we first opened Bocca Italian, we were the lone restaurant, but it’s been amazing to see how the area has grown. The more venues that open, the busier it gets for everyone. When Playa Mexican opened its first Saturday night, Bocca had a record night and Playa was packed too, which blew us away how everyone is thriving.&nbsp;

“There’s a great energy around the place now, and people are really embracing Bokarina as a food and lifestyle destination.”&nbsp;

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Stringer joined other buyers at Bask Bokarina and the Gardner Vaughan Group team to celebrate the topping out at a special event in February.&nbsp;

Located in Kawana Waters, midway between Caloundra and Maroochydore, Bokarina locals enjoy scenic walking paths around Lake Kawana, playgrounds, beachfront boardwalk and parklands, alongside all the convenience of a masterplanned beachside community.&nbsp;

“You see people jogging or swimming in the morning, then grabbing coffee at the cafes, people are really embracing the area and all this growth is bringing more people to Bokarina,” Stringer added.&nbsp;

To take advantage of the vistas, each of the 135 apartments at Bask is designed with full size windows and high ceilings that provide an abundance of natural light.&nbsp;

Prices for the remaining three-bedroom apartments start at $1,599,000 and four-bedroom apartments start at $3,149,000.&nbsp;

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The mixed-use development also features ground-level retail space for cafés, dining options and boutiques, including the soon-to-be-opened ‘Corner Shop’, by the team behind Noosa’s well known ‘Organika’.

Sam Gardner said Gardner Vaughan Group’s 37-year history building and developing across South East Queensland has contributed to the success of its second development in Bokarina, which follows the recently completed Zinc Apartments.&nbsp;

“We care how people live and this is reflected in the way we approach the design and delivery of every development,” he said. “Furthermore, as a builder-developer we have full control over the construction program and our 100 per cent completion rate is something people can draw confidence from.”&nbsp;

Founded by civil engineers Guy Gardner and Darryl Vaughan in 1989, the family-owned business has evolved from a consultancy firm to an award-winning builder-developer, with projects across the Sunshine Coast, Moreton Bay, Brisbane and the Gold Coast.

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Gardner Vaughan Group tops out Bask Bokarina apartments

Prolific Melbourne developer <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> has launched its fourth new Gold Coast development in as many years.

<a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a>, led by Daniel Faigen and backed by Eddie Hirsch, co-founder of United Petroleum, has unveiled The Eveleigh, on a prime 1,100 sqm site at 7-9 Surf Parade in the heart of Broadbeach.

<a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a> will deliver 100 apartments across 31 levels, making it the company’s largest Gold Coast project to date. It builds on the success of its three earlier developments, <a href="https://www.apartments.com.au/buildings/hemingway-1267-1273-gold-coast-highway-palm-beach">The Hemingway in Palm Beach</a> and <a href="https://www.apartments.com.au/buildings/emerson-kirra-100-musgrave-street-coolangatta">The Emerson at Kirra</a>, both completed, and <a href="https://www.apartments.com.au/new-apartments/yves-mermaid-beach-7-9-mermaid-avenue-mermaid-beach">Yves Mermaid Beach</a>, which is nearing completion.

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The announcement of The Eveleigh affirms the company’s sustained confidence in the Gold Coast market which continues to remain undersupplied. It also increases the value of Hirsch &amp; Fa​igen’s Gold Coast development portfolio to more than $700 million since the company first entered the market in 2021 with Hemingway.

The company has enlisted its preferred architecture firm Rothelowman to design The Eveleigh, which will offer a thoughtfully curated lifestyle, including a substantial wellness precinct, communal recreation areas, children’s play spaces, work-from-home facilities, and shared lounge and dining areas.

[smartcode_project:default project_id=149670 project_image_fid=360965]

Designed for the prime market demographic of downsizers and interstate lifestyle investors in mind, The Eveleigh has been crafted to offer an increasingly rare blend of affordable luxury in a tightly held market. Uniquely positioned in the heart of the Gold Coast’s most sought-after lifestyle suburb of Broadbeach, the project will also boast uninterrupted beach and hinterland views.

The Surf Parade site is just a short walk to the bustling Broadbeach dining and retail precinct, Pacific Fair, The Star Gold Coast and convention centre, and an easy stroll to Kurrawa Beach and the recreational amenity of Pratten Park on the Broadbeach foreshore.

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“We’re excited to be proceeding with our fourth project on the Gold Coast in what is certain to become the new luxury precinct in Broadbeach,” says Anthony Bueti, the CFO of Hirsch &amp;a​mp; Faigen and a shareholder of the group.

“With the likes of Mosa​ic and Abedian &amp;a​mp; Co also launching quality projects in the area, the transformation will cement Broadbeach as the premier lifestyle and amenity suburb on the Gold Coast.

"After four years in the Gold Coast market, and with three successful projects completed, The Eveleigh is the product of everything we have learned to love about the Gold Coast and it will be an incredible addition to our growing portfolio in one of the most vibrant property markets in the country. We continue to remain very confident in the high-end Gold Coast property market.”

Urban Activation Director Matt George is handling sales for The Eveleigh, having sold out The Emerson, The Hemingway, and Yves, all before construction was completed.

Melbourne builder MAXCON has already commenced construction on The Eveleigh. They are forecasting a mid-2028 completion.

[smartcode_project_cta:default project_id=149670]

Hirsch & Faigen unveils The Eveleigh in Broadbeach

Two years after securing development approval for the final stage of its award-winning Thornton Precinct on the doorstep of Penrith Station, Urban Property Group is set to launch <a href="https://www.apartments.com.au/new-apartments/mayfair-on-penrith-172-lord-sheffield-circuit-penrith-nsw-2750">Mayfair on Penrith</a>, around 400 apartments designed to reflect two of Sydney’s most iconic structures.

The builder-developer has continued refining the design plans for the two-building development on a significant 8,280 sqm site on Sheffield Circuit, recognising the importance of the prime parcel as one of the closest developable sites to the station.

UPG enlisted architecture firm SJB to design the project. The team said they drew inspiration from both the General Post Office in Martin Place and East Circular Quay to help shape the design. The two-level colonnade, in particular, reflects the famous GPO building, which dates back to the 1860s.

[smartcode_project:default project_id=136726 project_image_fid=362014]

There will be one-, two-, and three-bedroom apartments on offer, with interiors by Cox Architecture. Residences will sit above a retail podium featuring hospitality and lifestyle operators such as One Playground and Volcano’s Steakhouse, contributing to an activated ground plane within the broader Thornton precinct.

A communal rooftop with a pool and views towards the Blue Mountains will provide shared open space for residents. The development is positioned between Ron Mulock Oval and Westfield Penrith, with the Nepean River and Great River Walk also nearby, placing daily amenity and green space within walking distance.

&nbsp;

[smartcode_project:default project_id=136726 project_image_fid=362015]

Mayfair is being delivered by Urban Property Group, a family-owned developer and builder with nearly 40 years’ experience across Sydney. The project will be the first in Penrith to be offered with Resilience Insurance’s 10-year Latent Defects Insurance (LDI) policy, which Urban Property Group has adopted across a number of its recent developments. The developer also has a 4.5-star iCIRT rating, one of the best ratings in market providing further confidence to buyers.

Urban Property Group CEO Patrick Elias said providing additional assurance to off-the-plan buyers has become increasingly important.

“Anything we can do to give confidence in our product is a plus,” Elias told Apartments.com.au.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. They’re making their single large investment, which is their home, and providing confidence is something that we feel is paramount.”

[smartcode_project:default project_id=136726 project_image_fid=362020]

The LDI policy provides a 10-year warranty covering structural defects, with independent inspections carried out during construction and protection for owners if defects arise post-completion.

Mayfair represents Urban Property Group’s sixth and final development within Thornton, consolidating the masterplanned precinct immediately east of the station.

The developer, which builds its own projects, has already commenced construction. SRM Residential is handling the sales campaign.

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Urban Property Group to close the curtain on award-winning Thornton precinct with Mayfair on Penrith release

Fairfax

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Legal proceedings aimed at preventing a merger between Fairfax Media and Nine Entertainment have fallen short in the Federal Court.
Former Domain chief executive Antony Catalano had <a href="/news/antony-catalano-eyes-domain-return">launched the challenge</a> after Fairfax shareholders voted for the merger last week. 
Catalano argued Fairfax shareholders had not been given the opportunity to consider his proposal which included acquiring 20 per cent of the company’s shares.
Justice Jacqueline Gleeson approved the Nine-Fairfax scheme of arrangement after the ACCC gave it the green light earlier in the month. 
“I believed and continue to believe that at current share prices Fairfax shareholders were entitled to a better deal,” Catalano told The Australian.
“I have put my arguments to the court but I have not been successful. I respect the court’s decision and am unlikely to appeal, but I will reserve my rights until my legal team has had a chance to review Her Honour’s written decision.”
In his 11-page affidavit to the court yesterday, Catalano further outlined his alternative proposal to "deliver better value for Fairfax shareholders”.
Mr Catalano had voiced his opposition to the Nine merger by sending a letter to Fairfax chairman Nick Falloon on the eve of the Fairfax shareholder merger vote.
In the vote, 81.49 per cent of Fairfax shareholders backed the deal.
Catalano’s lawyer sought an adjournment to get a second independent report prepared, which was <a href="/news/antony-catalano-fails-in-his-air-headed-domain-return">rejected by Justice Gleeson</a>.
The group will own nearly 60 per cent stake in online property listing group Domain.
Fairfax shares will cease trading on the ASX at the close of trade tomorrow.
 
 
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j.ballantyne1990-6AQqhLzZaK

Catalano's Federal Court foray fails to stop Fairfax-Nine merger

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The now not so hip activist investor Nick Bolton has emerged as a backer of Antony Catalano’s 11th-hour plan to derail the Fairfax-Nine merger.
The former Domain CEO has confirmed he will mount a court challenge to the merger between Fairfax Media and Nine Entertainment.
Catalano says he has a superior proposal to the Fairfax-Nine merger, which was given shareholder approval last week.
He will ask the Federal Court to reject or defer the deal as he has support from shareholders.
"I have heard from a number of shareholders that would like to consider an alternative proposal," Catalano says.
Catalano says his court submission would outline a "range of concerns" with the Fairfax-Nine merger.
Controversial greenmailer Nick Bolton's investment vehicle Aurora Funds Management was set to appear before Judge Jacqueline Gleeson.
On the evening before the shareholder vote last Monday week, Catalano launched a dramatic eleventh hour bid to stall the merger by revealing he had a plan to implement a range of asset sales to deliver value to shareholders.
Catalano sent a letter to the Fairfax board at 8pm Sunday, with the board meeting to reject the proposal ahead of the 10am Monday shareholders' meeting.
The Fairfax board rejected the approach and proceeded with the long-scheduled vote of the merger.
Nine and Fairfax sources expect Catalano's court action to be unsuccessful.
And Herald Sun columnist Terry McCrann wrote Catalano was "not the 2018 version of the 1980s corporate raider and master manipulator Robert Holmes a Court. Not even close.'
"If Holmes a Court had pulled a stunt like the one you tried on Fairfax Media on Sunday night, it would have been an elegant combination of real financial substance, loaded with menace, and actually committing him to nothing."
"To call it an inept and rather embarrassing joke would be to give it more credibility than it deserved," McCrann wrote.
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Antony Catalano’s 11th-hour plan to derail the Fairfax-Nine merger hits Federal Court

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The former Domain chief executive Antony Catalano failed in his eleventh-hour, air headed attempt to block Nine’s bid for Fairfax Media.
Some 81 percent of the Fairfax shareholders voted for the merger.
There was no appearance by the Melbourne-based former chief executive at the Sydney meeting Monday morning.
There was just one question from the floor as to whether the chairman Nick Falloon had given consideration to the request to postpone the vote to give greater consideration to Catalano's Sunday night missive.
The 81 percent vote included the use of some 16 percent open proxy votes which were voted in favour of the merger by the chairman.
Catalano had <a href="/news/antony-catalano-eyes-domain-return">indicated he would buy up to 19.9 per cent of Fairfax</a> to then implement a Domain-led turnaround strategy for the ailing media group from a board seat.
Fairfax shareholders voted to push ahead with the $4 billion merger, which would mark the end of the 177-year-old publisher as a stand-alone company. 
The Fairfax board met early Monday and unanimously urged a vote for the merger.
The merger needed 75 percent of total votes cast, so Catalano may have succeeded with more time.
Overnight Catalano hit out at the Fairfax Nine merge plan, saying the current proposal did not apply a sufficient premium for control of Fairfax’s majority-owned digital real estate arm, Domain.
He said $740 million in value in the share takeover had been lost since the planned merger was announced in July.
Catalano's friend, the billionaire investor Alex Waislitz said he planned to vote his Fairfax shares against the merger. 
Share market activist Stephen Mayne tweeted the 11.4 percent of voted shares and 18.51 percent of voting shareholders was "more resistance than usual" in these scheme merger deals.
The combination of Nine and Fairfax's publishing assets will create a business with around $500 million in revenue.
Over the weekend a prominent member of the Fairfax family, John B Fairfax attacked the Nine takeover of Fairfax, saying the Fairfax newspaper company and name has more credibility than the commercial network associated with media moguls Kerry Packer and Alan Bond.
Last week the former prime minister Paul Keating said the ACCC’s approval of the Nine-Fairfax merger was a "truly appalling decision."
Catalano has flagged he could challenge the merger deal in court next week, Fairfax Media has reported.
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jchancellor-FAypfDUnLy

Antony Catalano fails in his air headed Domain return

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The former Domain chief executive Antony Catalano has launched an eleventh-hour attempt to block Nine’s bid for Fairfax Media, indicating he would buy up to 19.9 per cent of Fairfax to then implement a Domain-led turnaround strategy for the ailing media group from a board seat.
Fairfax shareholders meet today to vote on whether to push ahead with the $4 billion merger, which would mark the end of the 177-year-old publisher as a stand-alone company. 
The Fairfax board met early Monday and unanimously urged a vote for the merger.
The merger needs 75 percent of total votes cast.
Catalano hit out at the Fairfax plan, saying the current proposal did not apply a sufficient premium for control of Fairfax’s majority-owned digital real estate arm, Domain.
He said $740 million in value in the share takeover had been lost since the planned merger was announced in July.
Catalano's friend, the billionaire investor Alex Waislitz has said he planned to vote his Fairfax shares against the merger. 
“I’m not going to back the merger ... even though I can see there is some structural and ­strategic benefits to having the wider platform for products to be sold across, and also there are a lot of synergy benefits to it,” he told The Australian.
Mr Waislitz’s listed fund Thorney Opportunities and private fund Thorney Investment Group combined own more than 50 million Fairfax shares., about two per cent of the company.
“(Nine’s) Hugh Marks and the team there have done a good a job at Nine. However, I do think they have been clever at buying Fairfax at a very good price and with the recent fall in the share price Fairfax shareholders are missing out on a lot of value with the scheme going ahead,” he said.
The merged Fairfax will consist of Nine’s free-to-air television network, home to reality shows such as Married At First Sight and The Block, and digital business 9Now, plus Fairfax’s Australian and New Zealand mastheads, including the The Sydney Morning Herald, The Age and The Australian Financial Review. 
In a letter sent to Fairfax Media chairman Nick Falloon last night, and obtained by The Australian, Catalano proposed acquiring an interest of up to 19.9 per cent in Fairfax Media “at a price superior to the intrinsic market-to-market value of (Nine’s proposal) of up to 65c per share”.
Shares in Fairfax closed on Friday at 61.6c.
“As the former CEO of ­Domain, I have a unique knowledge of that business, and accordingly believe that I could provide significant assistance in optimising its value for Fairfax shareholders, along with providing a strategy for the balance of Fairfax’s valuable assets,” Mr Catalano said.
He asked Mr Falloon to ­adjourn the shareholder meeting for at least two weeks to allow shareholders and the Fairfax board to properly consider his ­alternative proposal. 
“Through my inquiries, I understand that the general sentiment of Fairfax major shareholders is that the merger scheme (at current prices) is a disappointing outcome and that an alternative outcome is an option that could find considerable support that could see Fairfax shareholders achieve full value for their holding,” he said.
“I intend to then have Fairfax pursue a multi-pronged strategy to build and realise value for Fairfax shareholders. This strategy ­includes the divestiture of non-core assets, building the Domain franchises and pursuing asset sales with a suitable control premium not presently factored into the (Nine) scheme, with all proceeds to be returned to Fairfax shareholders as cash distributions or by way of share buybacks.’’ 
The former property reporter Catalano spent more than four years at the helm of Domain, but just two months fronting the publicly listed Domain company, quitting the digital real estate group in January.
Nine Entertainment has left the door open to sweeping up minority stakes in Domain after any merger with Fairfax Media.
 
 
 
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Antony Catalano eyes Domain return

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The tech billionaire Mike Cannon-Brookes and his wife Annie Todd have bought Australia’s most expensive house, the harbourfront jewel, Fairwater at Double Bay.
The sale, possibly for close to $100 million, and likely to be in cash, ends more than a century of Fairfax family ownership on Seven Shillings Beach.
Despite the end of the boom, their purchase highlights the enduring popularity of premium harbourfront property, as old money passes the baton to new money.
It took just three weeks for the 1.12 hectare estate to sell, although there had been expectations of its listings since the death of Lady (Mary) Fairfax last September.
The current Sydney time on market has edged up this year to be taking 37 days to find buyers, among the 28,000 current offerings available for sale, according to CoreLogic.
Property developer Richard Sheinberg had been among those who'd been through.
“We are delighted with the purchase of Fairwater for our young family and look forward to continuing the legacy of this beautiful Sydney home,” Cannon-Brookes said. 
“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," the Cannon-Brookes said.
The price has not been revealed since its sale on Wednesday night, but it had been expected to fetch somewhere between the $71 million paid right next door and close to $100 million.
The sale coincided with a visit to Sydney from the United States by Cannon-Brookes who spends much of his time in San Francisco near Atlassian's US HQ.
The billionaire was always tipped to be its likely buyer, and not just because estate agents pinpointed his Kalamazoo, American-born wife as keen to secure an Australian trophy home.
His Atlassian business partner Scott Farquhar paid $71 million without any mortgage next-door for another Fairfax family home, Elaine which took three years to sell.
There was no formal website marketing for the home that dates back to 1881, but interested parties were being taken through the landmark home by Christie's International agent Ken Jacobs.
“Elaine and Fairwater are the golden girls of Sydney Harbour,” selling agent Ken Jacobs said earlier this month.
"To get over 11,000 square metre of land on Sydney Harbour is just unheard of, and it will be impossible to repreat that," Jacobs said.
"You'd have top buy 11 standard Point Piper sites to get to this size, so it's really just a one off.
"Internationally, to get a property as revered as this within five kilometers from the CBD and this landsize, and on a harbour, is just unheard of.
"It's very extraordinary for a property like this to still exist."
Almost like Cannon-Brookes and Farquhar's business exploits, Jacobs suggested Fairwater and Elaine complement each other.
"They add value to each other because you've basically got Australia's two best properties together. And they're both about to be revived to their former glory."
"They're both legacy properties," Jacobs said, adding that they're not on the radar of properties that continually turn over.
"They're ones that have just been there and maintain quite an amount of mystique.
"It was wonderful when Elaine came to the market, but with Fairwater, it takes it to another level because of the land size.
"It's an acre larger than Elaine and the grounds are just extraordinary.
"It may not come for another hundred years or more."
The Atlassian co-founders' wealth is pegged at a combined $6 billion after Atlassian was founded in 2002 using $10,000 in credit card debt.
The Atlassian co-founder Mike Cannon-Brookes was always on Jacob's radar as a prospective buyer.
He recently sold his Braelin, his Centennial Park trophy, for $16.5 million, and has looked at several trophy homes to purchase.
Last year the family even stayed at Barford in Bellevue Hill to test whether they liked it there on the hillside location.
The Cannon-Brookes had already spent a combined $16 million on two non-waterfront Double Bay houses. The acquisitive couple have spent more than $45 million worth of homes in the past six years including a second Southern Highlands weekender.
The Double Bay offering by the executors of the late LadyFairfax had been in the Fairfax media dynasty family since 1901 when Sir James Oswald Fairfax paid £5,350.
The two-storey, late Victorian mansion - which was designed by architect J. Horbury Hunt for stockbroker, Francis Joseph in 1881, is set on five sub-dividable blocks on exclusive Seven Shillings Beach. 
Elaine is a 6,900 square metre land holding, with Fairwater ranked as the largest privately-owned harbour side landholding, spanning 11,210 square metres.
"It is remarkable that an estate offering such rare and unrepeatable features still exists in Australia today; this opportunity will not come again," Jacobs said.
"It's not what you expect to find in Sydney.
"It's what you expect to find in Newport, Rhode Island for example, because of the grandness of the estate."
Coming without Opera House views, and just the top of the Bridge, the property was always likely to sell to locals rather than Chinese buyers who seek the postcard aspect. 
The top 10 sales across Australia include four sales in Point Piper, three in Vaucluse, one in Melbourne's Malvern and a Mosman Park compound in Perth, which when sold for $57.5 million in 2009, held the national price record.
There had only been one prior listing through to had the potential of securing $100 million, just around the corner.
It was in 2016 when Aussie John Symond listed his Point Piper trophy home with unconfirmed $100 million plus expectations.
His modern four level harbourfront home, set on 2685 square metres, was so vast, and then without vegetation, that it was nicknamed 'Aussie Stadium'.
The state government will secure $6.94 million stamp duty on the touted $100 million sale, and $14.9 million if the Cannon-Brookes are considered based overseas and subject to foreign buyer duty.
Lady Fairfax briefly contemplated gifting her mansion to the people of NSW. 
In 1996 Lady Fairfax announced a trust of seven was being established to oversee the estate. 
Lady Fairfax, who later declined to comment on her intended gift, moved into Fairwater with her husband, Sir Warwick in 1969.
During her decades the Fairwater grounds had been regularly opened for charitable fundraising occasions, including the East West Foundation, the Australia Ireland Fund, the Opera Foundation Australia (founded by Lady Fairfax) and the Cochlear Implant Centre, Sydney. 
At one dark stage in the Fairfax annuls, the mother of fallen media boss Warwick Fairfax, suggested after he lost the newspaper empire, that she might have had to sell part of the grounds to pay the land tax and its upkeep.
"Fairwater is safe but what is Fairwater without the garden, it's just another big old house," she said amid the 1990 company stockmarket turmoil.
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Fairfax's Fairwater sale reflects baton change from old media to new tech

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The billionaire Melbourne investor Alex Waislitz says many shareholders in real estate website company Domain want the recently departed Antony Catalano back as its chief executive.
He said he was disappointed Catalano, who resigned unexpectedly last month, was not still its boss, adding his confidence in the overall leadership of Fairfax and Domain has been "dented".
He also suggested Nick Falloon should not be chairman of both Fairfax and Domain.
Waislitz offered himself to mediate some sort of rapprochement between Catalano and Fairfax management.
<div class="cq-article-content-media section">"Many of the investors I have spoken to, in light of the limited amount of information that has been made available publicly about [Mr Catalano's] behaviour, would say they would be happy to have him back," Mr Waislitz told The Australian Financial Review.
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"I think Catalano has proven himself to be the best person to run the business at this point in time. I don't know who the candidates are that they are interviewing. Could he come back? I'm not sure. 
<div class="cq-article-content-paras section">
"Would he come back? I'm not sure."
<div id="article-inline-ad" class="adWrapper">The activist investor via his private investment group Thorney had been a close friend to Catalano.</div>
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<div class="adWrapper">Waislitz said he had sold some Domain stock since Catalano's resignation on January 22. </div>
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"We have reduced our position over the last few months, and including since he left. We will be driven by the information that comes out. We may sell more, we may buy more. We are keeping our options open.
"I'm very disappointed [Mr Catalano] is not there because he was [the] driver. On the other hand, he built a great team and the company will go on regardless. Obviously there are details that are still to come out.
</div>
<div class="cq-article-content-paras section">
"I think wiser heads should be involved; other directors of the boards of Fairfax and Domain should get involved in the discussion, take the emotion out of it, take some of the egos out of it and come up with sensible way to end this that allows the company to go on and grow."
Domain reported a half-year operating profit of $56.8 million earlier this week.
Its shares are down about 10 per cent since the beginning of January.  
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Push for Antony Catalano to return to lead Domain

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<div class="cq-article-content-paras section">
Fairfax Media is looking for new Sydney headquarters after agreeing to Google to take its remaining space at Pyrmont.
After almost a decade in the Mirvac-owned building at 1 Darling Island Road, Fairfax has assigned over its remaining 9000 square metre lease over three floors to Google, who had been subletting since 2013, a demoralising physical sign of the massive shift amid the digital age. 
Fairfax's lease was to run until 2027.
Google has already taken several floors in the 22,000 square metre building from Fairfax which signed up to the deal under its late chairman Sir Ron Walker.
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<div class="cq-article-content-paras section">
Fairfax has about 950 staff at Darling Island.
It is seeking between 8000 square metres and 10,000 square metres.
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<div class="cq-article-content-paras section">
Google is still looking for new long term headquarters as well.
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Fairfax cedes Darling Island to Google

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Domain is expected to be spun out of Fairfax in November, pending a shareholder vote at an extraordinary general meeting.
Fairfax updated the stock market on progress of its plans for the Domain group today.
Fairfax plans to retain a 60 percent stake in Domain, with the remaining 40 percent distributed to Fairfax shareholders.
Nick Falloon will be chairman of Domain. 
<a href="https://www.propertyobserver.com.au/images/2017/08/16/Screen%20Shot%202017-08-16%20at%201.38.37%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/16/Screen%20Shot%202017-08-16%20at%201.38.37%20pm.jpg" alt="">
Domain delivered 19% growth in digital revenue but a 12% fall in print ad revenue over the past financial year.
Domain’s operating expenses increased 17%, but its print costs fell 6%, largely as a result of a new magazine format.
EBITDA also fell 6% in the first half as a result of investment, but improved in the second half.
The publishing giant’s biggest area of growth was Domain Group, which climbed 8.1% to $320.3 million revenue from $296.3 million for FY16.
Fairfax expects a scheme booklet to be available in late September, then a roadshow in November along with a shareholder vote to approve the listing in early November.
Last week the REA Group announced a 19 percent fall in full year profit to $206 million, mainly due to a write-down in the value of the company’s Asia business.
<a href="https://www.propertyobserver.com.au/images/2017/08/16/Screen%20Shot%202017-08-16%20at%201.38.51%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/16/Screen%20Shot%202017-08-16%20at%201.38.51%20pm.jpg" alt="">
Revenue was up 16% to $671.2 million.
Net ­profit amounted to $206.3 million in the year ended June 30, down from $253 million in the prior year.
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Domain set to be floated in November by Fairfax

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Fairfax shares were placed in a trading halt on Tuesday morning after The Australian Financial Review's Street Talk column revealed spin off plans on Monday. 
The media group seems set to retain between 60 per cent and 70 per cent of Domain under the separation plan.
Fairfax Media is considering a proposal to "spin off" its real estate business Domain. Analysts expect Domain to be worth about $2 billion as a separately listed entity.
The Australian Financial Review's Street Talk advised no formal decision has yet been made.
It wrote Fairfax is "seriously considering spinning off Domain into a separately listed vehicle to be run by current Domain boss Antony Catalano."
Macquarie Capital is advising Fairfax, it revealed.
The article comes as Fairfax prepares to hand down its financial results for the six months to December 31 on Wednesday.
Domain is expected to be a key feature at the results announcement despite recent reports of a constipated listings market.
A Fairfax spokesperson declined to comment to the AFR columnists.
Sources told Street Talk key Fairfax decision makers thought that "the time was right" to enact the long-speculated spin off plans before the end of the year.
The business column described Domain as the shining light within Fairfax earning about $130 million a year for the publishing company.
Goldman Sachs analysts expect Fairfax to report $139 million in earnings before interest, tax, depreciation and amortisation for the six-months to December 31, with Domain accounting for $65 million.
Goldman Sachs told its clients on Monday that it was "all eyes on Domain" with particular focus on any pushback from agents on January price rises.
Last November the billionaire small cap investor Alex Waislitz urged Fairfax Media to consider changing its name to Domain to reflect its growing real estate listings business is now worth more than the entire company’s market value.
Waislitz, whose listed fund Thorney Opportunities (TOP) and private fund Thorney Investment Group own more than 50 million Fairfax shares, suggested the Fairfax name was “anachronistic” and urged the media company to consider rebranding itself.
“We think Domain alone is worth in excess of the entire market capitalisation of Fairfax," The Australian reported.
Last December when speaking to Mumbrella, Antony Catalano said there was “no need” for the real estate business to float separately.
“When you have a business that is growing as quickly as Domain is growing then we have an obligation to our shareholders to realise the value of this business,” he said.
“Fairfax is never going to float this business when so much of the value still hasn’t been realised.
"We’ve said publicly this is a business we expect to grow from $120m EBITDA to somewhere in excess of $200m EBITDA over the next two to three years."
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