Sydney's most expensive property is expected to fetch a staggering $100 million when it is finally sold - a price that is out of reach for even many of the neighbouring residents in the affluent harbourside eastern suburb of Point Piper, in which the sprawling mansion is located. Those with mega cash to splash can make an offer on Elaine, labelled as 'the most significant residential estate to ever be sold in Australia'. The huge white seven-bedroom house has been owned by media moguls the Fairfax family for four generations and 122 years. Staggering: Elaine, labelled as 'the most significant residential estate to ever be sold in Australia', is expected to fetch $100 million
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Seven bedroom home in Point Piper, eastern Sydney, is expected to fetch $100 million
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The mansion has been home to media moguls the Fairfax family for 122 years
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Boasts a tennis court, stables and its back yard rolls onto the beach
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The house has been on the market since September 2013
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John B. Fairfax is reportedly selling the home so a new family can 'enjoy it'
Classic style: This elegant dining room will have 'played host to a bevy of important guests across four generations of ownership by one of @placeholder's greatest media families'