Kangaroo Valley retreat crashes to year’s biggest real estate loss

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.

The luxury Kangaroo Valley retreat owned by Deborah and David Fairfull, the founder of collapsed artificial intelligence start-up Metigy, has been sold. Source: realestate.com.au

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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.

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That sale price was $1.45m down – or 18 per cent – on its November ‘21 price of 7.7m.

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The luxury Kangaroo Valley retreat has resulted in the year’s highest property loss. Picture: realestate.com.au

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Metigy CEO and co-founder David Fairfull. Source: Supplied.

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