Massive $7.5m Qld luxury home sells, after rising $1.15m a year

The Ascot home has sold for $7.5m.

A massive luxury Queensland home has sold for $7.5m, after rising $1.15m a year in value without their owners lifting a finger.

Nick Roche of Ray White Ascot, who sold the property on behalf of the owners, said “in the last two years, they’ve made $2.3m and they’ve made no changes to the house whatsoever”.

“It’s just a true testament to the growth that Brisbane has had over the last two years. It’s just incredible.”

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The owners had not done a single thing to the home, making $2.3m off it in two years.

The living zone follows an open plan.

The owners had found another property in Brisbane’s southside to purchase, Mr Roche said, and put the sprawling five bedroom house at 15 Towers Street, Ascot up for sale.

They had paid $5.2m for in June 2020 with all the bells and whistles including seven car garaging, a glass elevator servicing three floors, a gourmet kitchen with butlers pantry, walk-in cold room, 2,000 bottle wine cellar, two swimming pools, rooftop entertaining deck with spa and firepit, a gym, sauna, home theatre, bar, pool room, and smart technology to power it all.

The sale was Ascot’s highest price fetched this year – going to a local family.

The ultimate in indoor-outdoor living.

Mr Roche said high-end buyers across Brisbane were struggling to find suitably completed and ready-to-move-into houses.

“I’ve got a big waitlist. I’ve a notepad with a heap of buyers looking for architectural homes, Queenslanders, land … When big beautiful properties come up, I can instantly go through my notebook, find the buyers who will suit that house, take them through and more often than not I sell it before it can hit the market now.”

The wine cellar can hold 2,000 bottles.

Mr Roche said the rise in demand for luxury offmarket properties started almost two years ago but was still persisting and getting stronger with less homes for sale.

“There’s just been such a high demand for great quality houses. A lot of buyers are looking for modern homes, houses that you can just move straight into. A lot of buyers are scared of buying houses that are unrenovated, but there’s a huge demand for modern architectural houses.”

Nice high position to catch summer breezes.

“Even though interest rate rises have caused some angst among buyers, we’re still seeing that if you have a quality home in a quality location that you’re still going to get a great price.”

Mr Roche said international enquiries for high-end properties were also on the rise now, making up about 70 to 80 per cent of enquiries, especially out of China, Hong Kong and the United Kingdom.

Towers St property sale history

August 2022: $7.5m

June 2020: $5.2m

January 2018: $2.5m

May 2015: $1.975m


Calm colour scheme throughout the home.

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