The wealthiest man in Australia has just added a new treasure to his collection of real estate by purchasing one of Western Australia’s most opulent and historic residences.
It has been verified that mining mogul Andrew “Twiggy” Forrest purchased the chic Cottesloe home built by Le Fanu, which is located near the city’s coastline.
The house was on the market for 1200 days until an offer was made on it in the first week of August, but the buyer was still a mystery after a month.
Although the purchase price was not disclosed, Mr. Forrest’s spokeswoman verified that he now has the keys.
According to a representative for Mr. Forrest, “Andrew Forrest has bought Le Fanu, a heritage-listed oceanfront home, situated at 2 Salvado Street, Cottesloe, a significant piece of West Australian history,” The West Australian said.
He is dedicated to restoring the house to its original state and protecting its distinctive historical importance. When it was constructed in the late 1800s, the Federation Queen Anne style structure was among the first homes in the neighbourhood.
The ancient Tukurua home that Mr. Forrest and his wife Nicola purchased for $16 million in 2015 is one of their two existing properties in Cottesloe. The other is an empty block that is now being built.
The mansion remained abandoned until 2009, when it was purchased for for $4.25 million, significantly less than the $6.5 million asking price.
After being acquired by fellow mining tycoon Steve Wyatt for $4.25 million in 2009 in a decrepit, derelict condition, Le Fanu, situated on a 1492 square metre block, received a considerable refurbishment.
The home was restored by Mr. Wyatt for up to $12 million, making it one of the most costly repairs ever carried out in Western Australia.
The property has six bedrooms, six bathrooms, a wine cellar with tasting room, a three-story internal elevator, and limestone feature walls. It also has a 10-car garage with a marble floor.
The first floor wraparound verandah boasts unbroken views of the seaside, the kitchen has a wide marble island bench, and the living room features original decorative pillars and floor to ceiling arch windows.
The residence, formerly known as Banksia, was constructed in 1893 for Henry Diggins Holmes and his family, who were the Western Australian Bank’s manager at the time.
After being briefly held by the Anglican Church, the property was sold to a farmer in Esperance in 1973 with the intention of using it as a seaside vacation house but instead allowed it to deteriorate.
More than 300 tradespeople from Zorzi Builders worked on the renovation, and Vivian Yap of Ray White sold the house.