Tech billionaire Scott Farquhar and his spouse, funding banker Kim Jackson are identified for having a considerably low-key strategy to their discretionary property purchases – at the least amongst Australia’s billionaire class.
That mentioned, the couple’s principal property funding is the $71 million Elaine property in Level Piper (a doer-upperer at that), so it’s all relative.
However as Gina Rinehart stakes her declare to Noosa, Andrew “Twiggy” Forrest to the late Olivia Newton-John’s Gaia Retreat in Byron Bay, and Mike Cannon-Brookes claims a great a part of Palm Seashore, the Southern Highlands and now Dunk Island, the Farquhar-Jackson household are doubling down on the Central Coast.
Information present the co-chief govt and co-founder of software program large Atlassian has set a file for Avoca Seashore of $10.85 million, which in billionaire phrases may very well be seen as a cut price, given it was discounted from an unique information of $13 million in February.
Native values have come a great distance since Farquhar first purchased into the market in 2010. On the time the then 30-year-old, who was residing in a two-bedroom house in Pyrmont, purchased an architect-designed home with 5 bedrooms on 556 sq. metres for $3.57 million.
Quick-forward to 2022 and the couple’s new digs – a kicked-football distance away – is one other designer residence with the identical variety of bedrooms and on the identical land dimension, however for the marked-up value of 200 per cent extra.
Not that rising values are a problem. Farquhar ranked fourth of this 12 months’s AFR Wealthy Listing 200, value an estimated $26.4 billion, and his wealth has solely improved since: the share value within the Nasdaq-listed Atlassian has soared 56 per cent to $US279.35 within the six weeks since he exchanged on the beachfront digs.