This is the Everingham Rotating House near Taree, NSW, Australia. This interesting concept works well on the spacious lot where it is situated. I am trying to picture it in my neighborhood of 1/6 acre lots.
This graphic from the National Post explains more about the mechanics of the structure.
And this YouTube video takes you inside the house:
The house is now available for holiday rentals; click here to learn more.
See also:
Gunsmoke and Knitting 