Fox family sell Sydney’s landmark Boomerang
Lindsay and Paula Fox have sold Elizabeth Bay’s Boomerang, seven years after it was first touted off-market.
The first Sydney home to sell for over $1 million, in 1978, the 25 room Spanish Mission mansion on a 4111 square metre north facing waterfront site is believed to have fetched $80m this time around, from an Asia-based buyer.
A long settlement – 18-24 months – has been mooted.
Biller Property’s Paul Biller is speculated to be the agent.
The result is consistent with the guide from an off-market campaign in 2021.
In 2017, it was for sale, sources say, with c$60m expectations.
Boomerang
Lindsay and Paula Fox outlaid $20m for Boomerang, at 42 Billyard Avenue, in 2005; it has been held in the name of their daughter, Katrina.
Developed in 1926 for music publisher Frank Albert, and once part of a larger estate, it contains 25 rooms – amongst them, seven bedrooms, a drawing room, library with Tudor-style fireplace, Mahogany panelled dining room, games room and a conservatory (story continues below).
A cinema is modelled on the State Theatre.
The site also offers a deep water jetty.
As well as being the first Australian home to trade for eight figures, Boomerang set a national record again in 2002, when art collector John Schaeffer outlaid $20.7m.
The former owners, businessman Duncan Mount and his wife, Sally, picked it up for $15m in 1996.
It was also in that year Boomerang featured in Mission Impossible 2.
Laing & Simmons sold it to the Fox family.
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