The sale of the Kangaroo Valley weekender of the collapsed AI start-up director David Fairfull and wife Deborah has resulted in the year’s highest known NSW property loss.
With only one bid at its midweek auction, the 48ha luxury escape, Heggy’s, fetched $6.25m. It was $1.45m – and 18 per cent – down on the $7.7m paid in November last year.
The Wattamolla Rd property features a four-bedroom residence plus a one-bedroom cottage, amid grounds with pool, waterfall, tennis court and horse and cattle facilities.
MORE: Just $2 could get you this luxury waterfront
Israel Folau makes massive profit on home sale
Sydney’s richest and cheapest streets revealed
The sale comes three weeks after Fairfull’s Mosman mansion sold for an undisclosed price having been bought for $10.5m in September last year with a loan from the collapsed AI-driven small business marketing platform Metigy.
The properties come with a first mortgage to Pallas Commercial Lending, plus four caveats, including one from Regal Funds Management and the Chief Commission of State Revenue.
MORE: Jenny and Dylan’s depressing Block reality
Has Atlassian boss paid record $150m for waterfront?
Music power duo get Love Island Byron Bay home ‘ on the cheap’
Story Credit: news.com.au