A RIVERFRONT home in one of Brisbane’s best streets has sold for $15m in a secret deal that has the industry in a spin speculating who the buyer is.
It’s the second property to sell in New Farm’s prestigious and tightly-held Oxlade Drive in a matter of days.
Ivo Kornel of SixtyFour Property negotiated the offmarket sale of the property at 18 Oxlade Drive, but refused to disclose any details when contacted for comment.
Records show the owners are Francis and Agnes Chaw, who operate a food packaging company called Wong Lee.
They paid only $950,000 for the property in 1994.
It’s surrounded by multi-million dollar mansions and apartment developments, including ‘The Oxlade’ and ‘The Peninsula’, which are under construction.
Veteran property developer Kevin Seymour is behind both of those projects, but did not know anything about the sale of 18 Oxlade Street when contacted.
Only last weekend, a home further down the street at 76 Oxlade Drive was purchased for $5.52m at a Ray White auction by Brisbane property developer Craig Purdy and his wife Michelle.
They plan to move in to the three-bedroom, three-bathroom house on 405 sqm when they return from France.
“I had wanted to pick it up for $5.2m or $5.3m, but there were three of us bidding all the way to $5.5m and the others were very comfortable and there was a person from the bush on the phone,” Mr Purdy said.
“Michelle said, ‘I thought you were going to stop’, but the front is so rare, and at that price point, I’m happy to be the pauper on Oxlade Drive.”
The couple currently live in an exclusive waterfront Catalina apartment at Teneriffe and agents have already made contact in anticipation of that property’s listing.
“We just really wanted a house and this house is beautifully renovated, we’ll just put some proper car accommodation in anda pool.”
It is understood the sellers were hoping for a figure closer to $6m.
Mr Purdy is in good company, with coffee king Dean Merlo a close neighbour, having paid $8m for a home at 36A Oxlade Drive in 2020.
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