Tech billionaire Mike Cannon-Brookes and his wife Annie have made Australian history by buying the most expensive property on the former prison-colony.

While the final price has not been made public,  Australian property website Domain report that it should exceed AU$100 million. That’s roughly R1 billion.

If you’re expecting a giant mansion, you’re going to be disappointed. It’s a regular-sized mansion. Still, it has a fascinating history.

CNN spoke to Mike and Annie (below) about the house:

“We are delighted with the purchase of Fairwater for our young family and look forward to continuing the legacy of this beautiful Sydney home,” the couple said in a statement.

“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,” they added.

Fairwater is the largest private property on Sydney’s harbour and was formerly the residence of Mary Fairfax, the third wife of media magnate Warwick Fairfax, who died at the age of 95 last year.

You can see her, her husband, actor Kirk Douglas and his wife at a party thrown for them at Fairwater below. Gotta love the 80s.

Cannon-Brookes founded Atlassian with Scott Farquhar, who bought a neighboring home last year for 71 million Australian dollars ($51 million), according to Domain.

The two entrepreneurs, who share the title of CEO at Atlassian, started the enterprise software firm in 2002. The company now has more than 2,500 employees and was listed on Nasdaq in 2015.

Unfortunately, there aren’t many pics of the inside of the house, but you can get an idea of the size of the property here:

That will do just fine.

[source:cnn]