Recognised as possibly Sydney?s most exclusive suburb, this prestigious peninsula is home to many rich and famous identities who inhabit its magnificent waterfront mansions with spectacular views. Dotted with lovely boutique beaches and yacht clubs, this tiny suburb is made up of just a handful of streets. Point Piper was named after Captain John Piper (1773?1851). Piper was a Scottish-born military officer of Cornish parentage, who arrived in the colony in 1792 and built a neo-Palladian mansion on the point, on 190 acres (0.77 km2) of land granted by the governor in 1816. After a review of Piper's performance as head of the Customs Department showed that he had mismanaged funds (although he was not actually accused of being corrupt), Piper attempted to drown himself in Sydney Harbour. He subsequently sold his holdings at Point Piper, Rose Bay, Neutral Bay, and Petersham, for ?5,000 and moved to the country. In 1834, Piper's former residence was leased by Colonel John George Nathaniel Gibbes (1787-1873), the newly arrived Collector of Customs for New South Wales and a Crown appointee to the colony's Legislative Council. Colonel Gibbes and his family resided at Point Piper House (also known as Henrietta, or Naval, Villa) until 1844, when they moved to "Wotonga" on Kirribilli Point. Wotonga now forms part of Admiralty House. Unfortunately, Point Piper House was torn down in the 1850s and the site redeveloped. Source: http://en.wikipedia.org/wiki/Point_Piper,_New_South_Wales