Tech billionaire Scott Farquhar buys iconic Sydney waterfront mansion for record $75 million
Purchase topped the previous record set by Australian-Chinese billionaire businessman Chau Chak Wing
Tech billionaire Scott Farquhar has bought a Sydney waterfront mansion for an Australian record AUD$75 million (US$56 million), a report said Monday, after the owners resisted selling the 1863-built home to developers.
The co-founder of Australian software giant Atlassian, which floated in the United States in late 2015, snapped up the iconic “Elaine” from John Brehmer Fairfax, whose family formerly owned the Sydney Morning Herald.
The estate, which stretches down to a harbour beach in Sydney’s prestigious Point Piper, had been in the Fairfax family since 1891 when it was bought for 2,100 pounds. It features horse stables, a tennis court and a ballroom.
Fairfax reportedly resisted larger offers from developers to subdivide the land.
“We’re thrilled with the purchase and honoured to take over the Elaine estate in its entirety from the Fairfax family,” Farquhar, 37, told Fairfax Media.