Businessman and ardent supporter of the arts Peter Weiss will create new venue at composer’s former studio.

Notable business man and arts philanthropist Peter Weiss has bought the former home of the late composer Peter Sculthorpe. Weiss was so determined to purchase the home that he entered into a fierce bidding battle for the property, which eventually sold for $3.75 million, last weekend – $1 million more than the reserve price.

Peter Sculthorpe, one of Australia’s most revered musicians and educators, ranked top of Limelight’s recent poll of Australia’s most important composer, first moved into the home in 1976. He passed away aged 85 in August 2014.

Thanks to Mr Weiss, who has been a generous donor to multiple musical institutions including the Sydney Symphony, ACO and AWO for over 25 years, the three-bedroom cottage with studio, on Holdsworth Avenue in Woollahra will continue to be a home for music. The studio will become a venue for masterclasses and small intimate performances, and a rehearsal space for students. Mr Weiss may live in the main house with his wife Doris.

In addition to the new studio venue, Sculthorpe’s legacy also lives on in his bequest to establish a chair in Australian music at Sydney University.