TECH billionaire John Collison plans to spend £5million doing up a derelict property he bought off a council for just £350,000.
The founder of software firm Stripe, 32, promised to make Millbrook House, in Co Laois, Ireland, a “spectacular home” to be used for close family and friends visiting from across the world.
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Limerick man John — through one of his companies — was the successful bidder after Laois County Council put the derelict 9,000 sq ft pad up for sale last summer.
In a letter with his bid, John wrote: “We are already investing at the Abbeyleix Estate with a mindset of being stewards of this property for the coming generations.
“The Abbeyleix Estate is a keystone piece of Laois history and deserves careful guardianship.
“We would be delighted to extend this approach to Millbrook House and we hope our offer is of interest.”
John had already purchased Abbeyleix House, a mansion next door, for £10million (€11.5m) last year.
Bid files revealed he plans to commit £5m (€6m) towards a “complete renovation and restoration”.
He said the gaff needed to dry out so safe access could be provided to carry out surveys to ensure an “historically accurate” build.
And his bid said because of renovation of the adjoining property on the Abbeyleix estate, they had skilled workers ready to tackle Millbrook House without “extensive delays” that might otherwise occur.
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Laois County Council initially wouldn’t provide access to the winning bid after a FOI request.
But it released most of the info after an appeal.
John owns the payment processor Stripe with his brother Patrick, 34.
The California-based firm is valued at around £66billion (€75bn).
The tech company is set to create “hundreds” of new engineering jobs in Dublin over the next few years.
Stripe currently employ around 300 people in Dublin – which is the company’s international headquarters.
The company has 3,000 employees globally – with 14 offices and operates in 43 countries.
