McMansion sets Australian property record

A sprawling waterfront mansion in Perth has set an Australian property record after selling for $57.5 million.

Yesterday, mining heiress Angela Bennett confirmed she had sold her property to a fellow mining magnate Chris Ellison.

Despite being a far cry from the original asking price of $70 million, the sale of the property still managed to set a national record.

The 7567 square metre riverside mansion is made up of three self-contained buildings and has its own cinema, gym, pool, boathouse, private jetty and tennis court.

Its sale price beat the record set last year by a $45 million Vaucluse waterfront property in Sydney's east.

The property, whose selling agent was was Willie Porteous (husband of Rose Porteous), has been on the market since 2007.