ONE Brisbane couple has landed the ultimate Easter windfall, selling their historic New Farm property for an incredible 30 per cent more than they paid for it just 16 months ago.
The vast, two-level Queenslander at 463 Bowen Terrace has soldONE Brisbane couple has landed the ultimate Easter windfall, selling their historic New Farm property for an incredible 30 per cent more than they paid for it just 16 months ago.
The vast, two-level Queenslander at 463 Bowen Terrace has sold to a local family for $3 million, after they made the vendors an offer they couldn’t refuse.
The property, on a rare 911 sqm, last sold for $2.3 million in November 2016, according to property records.
Inside the property at 463 Bowen Tce, New Farm, which has sold for $3m.Source:Supplied
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Brett Greensill and Andrea Crossan of LJ Hooker New Farm sealed the deal, which went unconditional the day before the Easter break.
Mr Greensill said the buyers had been looking for a family home in the area for “a very long time” when he decided to approach the former owners of 463 Bowen Terrace.
This colonial home at 463 Bowen Tce, New Farm, has sold.Source:Supplied
“They bought it on a whim on the basis of returning it to a single dwelling but that never happened, so we found someone else and we approached them,” Mr Greensill said.
He said the sale price reflected “phenomenal” capital growth.
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FRESH MODERN DESIGN
One of the bedrooms in the home at 463 Bowen Tce, New Farm.Source:Supplied
The century-old house comprises eight individual apartments and has been tenanted for many years, but the new owners plan to turn it into their dream family home.
“There are so few of these houses on that size block of land because, unfortunately, so many have been cut up and subdivided, which is what makes this a land acquisition as much as house acquisition,” Mr Greensill said.
Pressed metal ceilings adorn this home at 463 Bowen Tce, New Farm.Source:Supplied
From the outside, the home has a grand facade with a gable roof and bay windows, while inside, the house is adorned with period features such as ornate pressed metal ceilings, rich timber flooring, french doors and pendant lighting.
Perched on a corner block, the property is within walking distance of New Farm’s cafes and restaurants, the Brisbane River and CityCat terminals.
Originally published as Couple’s $43k-a-month real estate coup
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