Scott Farquhar Sells Sydney Mansion for $130 Million

Scott Farquhar, co-founder of Atlassian, has sold his historic beachfront estate, 'Elaine', in Point Piper, Sydney for approximately $130 million, matching the national house price record. The sale exceeds the initial asking price of $120 million and equals the amount he paid for another property, UIG Lodge, in November 2022. Farquhar purchased Elaine, a 7,000 sq m estate built in 1863, in 2017 for a then-record $71 million from John Brehmer Fairfax. The estate has a rich history, having belonged to one of the world's longest-running media dynasties since 1891. Farquhar, recently ranked as Australia's fifth richest with a net worth of $22.88 billion, initially planned a $37 million renovation for Elaine, but those plans were never submitted. The sale further solidifies Farquhar's status in the Australian real estate market, where the highest recorded residential deal remains a $140 million apartment that is yet to settle.