Tech billionaire Scott Farquhar has matched the national house price record after selling his beachfront estate in Sydney for an eye-watering $130million.
Farquhar, the co-founder of software giant Atlassian, reportedly sold the 1863-built grand estate known as ‘Elaine’, in ritzy Point Piper, for more than the initial asking price of $120million.
Farquhar’s latest deal matches the record price he paid for another Point Piper home, UIG Lodge, in November 2022, according to realestate.com.au.
The sale adds to the 44-year-old’s extensive wealth, after he was ranked the fifth-richest Australian on the AFR Rich List 2024 with an estimated worth of $22.88billion.
Farquhar bought the 7000sqm estate in 2017 from John Brehmer Fairfax for the then-national house price record of $71million, the Sydney Morning Herald reports.
The historic property had been home to one of the world’s longest-running media dynasties since Geoffrey Evan Fairfax bought it in 1891 for £2100.
A spokesperson from Farquhar’s office said they would not comment on the sale.
Farquhar recently stepped down as co-CEO of Atlassian, which he co-founded with Mike Cannon-Brookes, who owns the beachfront residence ‘Fairwater’ next door.
Scott Farquhar (pictured with his wife Kim in 2017), the co-founder of software giant Atlassian, reportedly sold the 1863-built grand estate known as ‘Elaine’, in Sydney’s ritzy Point Piper, for more than the initial asking price of $120 million
Farquhar bought the 7000sqm estate (pictured) in 2017 from John Brehmer Fairfax for what was then a national house price record of $71 million
Cannon-Brookes reportedly paid a cool $100million for the estate of the late Lady Mary Fairfax in 2018.
Australia’s biggest residential deal is a $140million apartment at the top of Lendlease’s Residences One tower at Barangaroo.
However, that property is a consolidation of two apartments, the penthouse and sub-penthouse and is yet to settle.
Farquhar initially had a $37million plan to upgrade the Elaine estate however, plans were never lodged with council after a neighbour complained.
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