Australian billionaire Scott Farquhar has snapped up a $130 million Scottish-style mansion, paying for Australia’s most expensive house without financing.
The Atlassian co-founder and his wife, an investment banker, Kim Jackson, will now call the sprawling 3,300 square meter, four-bedroom estate at the top of Point Piper in Sydney’s eastern suburbs home.
The record deal took place in December and Mr Farquhar has just taken full possession of the luxurious property.
The estate, known as Uig Lodge, sold for more than Farquhar’s estate. Fairwater, Atlassian co-founder Mike Cannon-Brookes’ Point Piper property, which he bought in 2018 for $100 million.
Farquhar’s new home was previously owned by Steven and Carol Moss, the co-founders of fashion retailer Katies, who bought it for $9.2 million in 1996.
Atlassian co-founder Scott Farquhar and his wife, investment banker Kim Jackson, bought Australia’s most expensive house for $130 million.
Uig Lodge sits on a high vantage point offering some of the best views of Sydney Harbour.
It is one of the most renowned properties in the city and its design was inspired by the castle house of a Scottish baron.
The Farquhar purchase comes after Atlassian announced it would cut hundreds of jobs in less than six months.
The software company announced last week that 500 full-time employees, or 5 percent of its workforce, would be laid off amid an economic downturn that has hit the industry significantly.
Farquhar and Cannon-Brookes sent an internal message letter to staff to explain company’s ‘difficult decision’ to lay off workers.
“We have made the difficult decision to rebalance our team to better position Atlassian for the long term,” Farquhar and Cannon-Brookes wrote.
“We made this decision as an executive team and with our board, but ultimately the final decision rests with us as co-founders. To those who leave us: we are deeply sorry.’
Atlassian’s human resources, program management, and research and knowledge teams will be hardest hit.
“To be clear, this decision is not a reflection of Atlassian’s own financial performance, as we will reinvest in roles that best support our priorities,” the co-founders said.
‘This will be hard news for all Atlassians to swallow. Take as much time as you need to process it.’
Laid-off employees will be offered a range of benefits including 15 weeks of severance pay, plus one week’s pay for each year of employment.
The house, known as Uig Lodge, spans 3,300 square meters and sits on a high vantage point offering some of the best views of Sydney Harbour.
Atlassian’s announcement came six months after the company launched a nationwide recruitment drive to hire new staff, promising them they could work from “anywhere.”
Mr. Farquhar hit the road, driving an Atlassian-branded motorhome in an attempt to find 1,032 employees to join the company in research and development roles.
“Atlassian’s work-from-anywhere (Team Anywhere) policy means many Australians can realize a tech dream without having to relocate,” a company statement said.
Atlassian offers extremely competitive salaries with packages starting at $100,000 and $150,000, depending on roles and experience.
The company’s recruiting campaign began at Sydney’s Martin Place before turning into a road trip.
The so-called ‘AtlassiVan’ visited Canberra, Wollongong, Melbourne, Adelaide, Newcastle, Brisbane, the Gold Coast and the Sunshine Coast.
The software giant came third on Australia’s 2022 Best Workplaces for Large Companies list, with one major bonus: it offers financial support for staff to set up their ideal workspace.
Staff can work from home anywhere and only have to meet for face-to-face collaboration four times a year.
If they arrive at the office by bicycle, the company reimburses the repair, accessories and rental of the bicycle up to an agreed amount.
Tech giant Atlassian will cut 500 jobs just months after co-founder Scott Farquhar (pictured) traveled across Australia to hire 1,000 people