Atlassian tech billionaire Scott Farquhar sells Point Piper mansion ‘Elaine’ for a staggering $130million
Tech billionaire Scott Farquhar has equaled the national house price record after selling his beachfront estate in Sydney for an eye-watering $130 million.
Farquhar, the co-founder of software giant Atlassian, has reportedly sold the 1863-built grand estate known as ‘Elaine’ in upmarket Point Piper for more than its original asking price of $120 million.
Farquhar’s latest deal matches the record price he paid for another Point Piper home, UIG Lodge, in November 2022 real estate.com.au.
The sale adds to the 44-year-old’s vast wealth, after he was ranked fifth richest Australian on the 2024 AFR Rich List with an estimated worth of $22.88 billion.
Farquhar bought the 7,000 sq m estate from John Brehmer Fairfax in 2017 for a then national house price record of $71 million. Sydney Morning Herald reports.
The historic building has been home to one of the world’s longest-running media dynasties since Geoffrey Evan Fairfax bought it for £2,100 in 1891.
A spokesperson for 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, owner of the adjacent beachside residence ‘Fairwater’.
Scott Farquhar (pictured with his wife Kim in 2017), the co-founder of software giant Atlassian, has reportedly sold the 1863-built grand estate known as ‘Elaine’ in Sydney’s posh Point Piper for more than the original asking price of $120 million
Farquhar bought the 7,000 sq ft estate (pictured) from John Brehmer Fairfax in 2017 for what was then a national house price record of $71 million
Cannon-Brookes reportedly paid a whopping $100 million for the estate of the late Lady Mary Fairfax in 2018.
Australia’s biggest residential deal is a $140 million apartment at the top of Lendlease’s Residences One tower in Barangaroo.
However, that property is a combination of two apartments, the penthouse and the sub-penthouse, and has yet to be completed.
Farquhar initially had a $37 million plan to upgrade Elaine’s estate, but the plans were never submitted to the council after a neighbor complained.