Point Piper

One of Australia’s richest men had big plans for a historic Sydney Harbour home

PHOTO: Point Piper mansion

  • $71million Point Piper property left untouched since it was purchased in 2017 
  • Atlassian co-founder Scott Farquhar planned to restore the palatial residence
  • No work has been done on the property and its lawn is now covered in weeds
  • Approved renovation proposal has quietly been shelved by software billionaire 
  • Mr Farquhar likely needs to run any new proposals past high-profile neighbours
Point Piper

Point Piper’s mystery buyer revealed

A palatial Sydney harbourside home bought by Atlassian co-founder Scott Farquhar four years ago is a shadow of its former self after the billionaire pulled plans for an extensive $37million rebuild.

Mr Farquhar bought the 7,000-square-foot mansion, known as Elaine, in Point Piper in Sydney’s east for $71million in April 2017 – the third highest price ever paid for a house in the city.

Woollahra Council approved his plans for a dramatic three-storey renovation that would have given the historic home – which the iconic Fairfax family owned for more than 125 years – a modern see-through curved facade.

Last year he revealed he wanted to restore the home to its former glory and preserve its sprawling, beautiful gardens, century-old trees and stable.

The businessman and his banker wife Kim Jackson are living in a $16.25million home in nearby Bellevue Hill after quietly scrapping the proposal drawn up by Italian architectural firm Lazzarini Pickering Architetti.

Mr Farquhar is under no obligation to proceed with the approved development plan, but will likely need to run any new proposal past his high-profile neighbours.

Atlassian co-founder Scott Farquhar is yet to restore one of the oldest and most expensive mansions in Sydney after purchasing it for $71million four years ago

Atlassian co-founder Scott Farquhar is yet to restore one of the oldest and most expensive mansions in Sydney after purchasing it for $71million four years ago

The 7,000-square-foot property in the ultra-exclusive Sydney suburb of Point Piper appears to have been left untouched since it was bought in April 2017

The 7,000-square-foot property in the ultra-exclusive Sydney suburb of Point Piper appears to have been left untouched since it was bought in April 2017

More than four years later, the tech billionaire has yet to begin work and the prestigious home is surrounded by building materials. Mr Farquhar is under no obligation to proceed with the development approval, but will likely need to run any new proposal past his high-profile neighbours

More than four years later, the tech billionaire has yet to begin work and the prestigious home is surrounded by building materials. Mr Farquhar is under no obligation to proceed with the development approval, but will likely need to run any new proposal past his high-profile neighbours

The prestigious home is in the meantime surrounded by building materials and a steel fence that wraps around the property.

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