A $50 million Bellevue Hill mansion owned by Scape Australia co-founder Stephen Gaitanos and his wife Emma is the subject of a $737,000 development application covering alterations, additions and landscaping.
$737,000 Bellevue Hill Mansion Proposal
Records show development application 210/2026 was lodged on 24 June 2026, with Humphrey & Edwards Pty Limited named as the applicant.
The proposed works include a new roof, driveway and turntable, paving, a lift, an entry gate and timber shutters. Plans also provide for demolition of the existing driveway, garage door and paving.
Architectural and landscape plans form part of the application, along with documents covering stormwater management, trees, geotechnical matters and waste management.
The application was advertised on the council website between 15 and 30 July, with neighbouring properties notified over the same period.
Council records show the further-information stage opened on 8 July and was marked completed on 9 July. A trees and landscaping referral was completed on 29 July, while a referral to the development assessment engineer remained listed as awaiting completion.
$50 Million Purchase Followed March Settlement
Stephen and Emma Gaitanos emerged on settlement documents in March 2026 as the buyers of the six-bedroom property, which changed hands for $50 million.
The home was purchased from Plenary Group chair and co-founder Paul Oppenheim and his wife Cathie-Jane, who had paid $18.8 million for the property in 2017.
During their ownership, the Oppenheims updated the interiors while retaining period elements including leadlight windows and ornate cornices. The swimming pool and tennis court were already part of the property.
The three-level house stands on a 1,714-square-metre property. Other features include a gym, office, steam room, library, rumpus room, billiard room, updated kitchen, multiple terraces and landscaped gardens.
Elliott Placks and Ashley Bierman of Ray White Double Bay declined to comment on aspects of the $50 million transaction or the identity of the buyers.
Gaitanos Co-Founded Scape Australia
Gaitanos, a former Morgan Stanley investment banker, co-founded Scape Australia with Craig Carracher in 2013.
The student accommodation business provides purpose-built housing across Sydney, Melbourne, Brisbane and Adelaide. Its rebranded parent business, The Living Company, also encompasses build-to-rent homes, affordable housing and retirement living.
Stephen and Emma Gaitanos also own a five-bedroom Hunters Hill home purchased for $4.2 million in 2018.
The renovation application for the Bellevue Hill mansion remains in the council assessment process, with the development assessment engineering referral listed as awaiting completion.
Published 5-August-2026
