Forrest snaps up Le Fanu for $15.6m

Billionaire Andrew Forrest has snapped up Cottesloe’s heritage-listed Le Fanu for $15.6 million after the property spent more than three years on the market.

The 17-bedroom Federation Queen Anne style home, built in 1893, sits on more than 1,400 square metres at Salvado Street adjacent to Cottesloe’s foreshore.

The property was previously owned by Chris Ellison’s estranged business partner Steve Wyatt, who purchased it in 2009 for just over $4 million.

Since then, Mr Wyatt is understood to have spent almost triple that amount undertaking extensive renovations and additions with the help of Zorzi Builders.

A spokesperson for the mining magnate told Business News he had purchased the historic piece of real estate and was committed to preserving its heritage value. 

"Andrew Forrest has purchased Le Fanu, a heritage-listed ocean-front property, located at 2 Salvado Street, Cottesloe, a landmark piece of West Australian history, and is committed to returning the home to its original condition and preserving its unique heritage value,” the spokesperson said.

Business News understands Mr Forrest purchased the property for $15.6 million in late July.

The home was built for the general manager of the state’s bank back in the late 1800s before being sold to the Anglican Church and named after Archbishop Henry Le Fanu.