PHOTO: Mining magnate and pastoralist Andrew Forrest (pictured centre) is a frequent visitor to Sydney.

Perth-based billionaire Andrew “Twiggy” Forrest already owns a crashpad in Sydney but has upgraded his local accommodation options by buying a modernist waterfront residence for more than $16 million in the rich-list heartland of Point Piper.

It was a bullish price to secure the home of hotelier Ben and Lucy May and just days before it was set to hit the market ahead of a scheduled December 11 auction.

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