Price is not the issue here

Lachlan Murdoch outmuscles Russell Crowe: Master and Commander star fails to land £12m Sydney house

Lachlan Murdoch, the eldest son of Rupert Murdoch, chairman and chief executive of News Corporation, has paid a record A$23m (£12.7m) for a home in Sydney, Australia, after seeing off a host of stars in an auction.

By Graham Ruddick, City Reporter
Published: 8:50PM GMT 06 Nov 2009


The property is the French government?s former consulate in Sydney?s exclusive eastern suburbs Mr Murdoch beat nine other bidders to secure the property, named 'Le Manoir’, including actor Russell Crowe and actress Nicole Kidman.

The property is the French government’s former consulate in Sydney’s exclusive eastern suburbs. It is a six-bedroom residence with panoramic views of the Pacific Ocean as well as a tennis court, swimming pool, five bathrooms, two studies, a guest powder room and a three-car garage.

The French government paid just A£26,000 for the property in 1956.

Bidding for the property, which lasted 10 minutes, opened at A$18m and bidders were asked to pay a refundable deposit of A$50,000 before the auction began.

The acquisition is thought to be the most expensive home purchase in Australia this year. Mr Murdoch and his wife, a television presenter and former model, are expecting their third child. He leads investment group Illyria Pty.