A six-storey Brisbane mansion – that has a Batman tunnel and hidden ‘bear cave’ with bar and recording studio – has smashed its Spring record, selling ahead of its auction this weekend.
The Morgan Street home in Ascot was scheduled to go under the hammer on Saturday but has now been officially listed as having gone under contract on realestate.com.au in one of the biggest sale prices sealed in Brisbane this year. Sources claim the property has sold for north of $12m, but real estate agent Matt Lancashire of Ray White New Farm would not comment on the exact sale price.
He confirmed the property has sold unconditionally prior to this weekend’s auction, but refused to comment on the identity of the purchaser.
Asked where the new owner was from, Mr Lancashire would only say that the buyer was introduced by his colleague Simon Petrie of the Ray White New Farm office. The buyer’s identity would not be revealed.
The property has been listed for just three weeks, with the sale coming amid a growing waitlist of prestige buyers competing for a dwindling supply of move-in-ready dream homes in Brisbane where prices surged 30 to 35 per cent in the past year.
“The strength of the Brisbane property market has been underpinned by the huge amount of international and interstate migration. Brisbane is no longer a little country town, it’s a phenomenal place to live and our property prices are undervalued compared to our southern states,” Mr Lancashire said.
“We fielded enquiry from interstate and overseas including Singapore, Hong Kong, London, America and even Egypt and United Arab Emirates. This sale represents a great sign of strength for Brisbane and in particular the prestige sector.”
The Morgan Street sale is the hottest in Brisbane this Spring, with the year’s top sale price so far coming off 673 Musgrave Road in Robertson, which a developer was said to have paid $17.25m for in March – though that is yet to appear in official records. The all-time record for Brisbane of $18,488,888 for 1 Leopard Street, Kangaroo Point, was in 2016.
The six bedroom, six bathroom, seven car garage mansion was originally built by Brisbane builder Brett Walker as his ‘forever home’. He sold it for $8.8m five years ago when it was the top Spring sale of 2017.
The family that bought it off him put in a massive secret hidden entertainment zone that went viral on social media when it listed three weeks ago with its lavish secret bar, games area and full recording studio.
Article source: Queensland Property Investor