Australia’s rich-listers buy and sell over Christmas

Australia’s rich-listers buy and sell over Christmas


Australia’s mega-rich have been buying and listing lavish properties during the Christmas-New Year period, with Atlassian Co-founder Scott Farquhar paying a whopping $130 million for the Point Piper trophy home ‘Uig Lodge’.

It’s the highest price ever paid for a house in Australia.

Mr Farquhar and his investment banker wife, Kim Jackson, bought the Wentworth St property prior to Christmas despite it not being listed with agents, according to realestate.com.au.

Set on a 3300sq m block, Uig Lodge was built at the turn of last century in the style of a Scottish baronial castle.

Uig Lodge sold for $130 million. Picture: realestate.com.au

It had previously traded for $9.2 million in 1996 when Steven and Carol Moss, of the Katies fashion chain, bought it.

The previous record for the most expensive Australian home was held by Mr Farquhar’s Atlassian co-founder, Mike Cannon-Brookes, who paid $100 million for Point Piper’s Fairwater in 2018. 

Similarly, wealthy garbage tycoon turned yacht broker Ian Malouf, who has a net worth of $600 million, spent $40 million on the beachfront home, Anakela, in Palm Beach, breaking the previous record for the area. 

This purchase was also made in the week leading up to Christmas. Mr Malouf now owns three houses on Iluka Rd, and several homes in the east.

Meanwhile, mining billionaire Gina Rinehart is hoping for a $6 million profit on a beachfront block at Noosa that she bought for $11.2 million last February. 

The property is being offered for sale with a $17.2 million price guide through Tom Offermann Real Estate.

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Paul Clout has designed concept plans for a beach house that could be built on the Noosa block. Picture: Tom Offermann Real Estate.

Situated on Noosa’s “front row”, the 531sq m block offers the potential for “knockout views from the headland of the Noosa National Park, sweeping north-easterly across Sunshine Beach and the Coral Sea, 180 degrees south to Mooloolaba, and beyond to the hinterland,” according to the listing.

Paul Clout has designed concept plans for an avant-garde beach house featuring four, elevator accessible levels, four bedrooms with ensuites, plus a wine cellar, bar, rumpus, pool room and a spa.

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Gina Rinehart’s block of land is on Noosa’s “front row”. Picture: Tom Offermann Real Estate.



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