Revealed: Secret deal over $15m Brisbane house sale

Neighbourhood Stouch

This property at 18 Oxlade Dr, New Farm, has just sold for $15m.

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.


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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.

The riverfront side of Oxlade Drive.

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.

This property at 76 Oxlade Drive has just sold for $5.52m.

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.

Homes along Oxlade Drive have a front row seat for all the river action.

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.”

Dean Merlo bought this property at 36a Oxlade Dr, New Farm, in 2020 for $8m in one of the last big home sales in the street.

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.


Craig and Michelle Purdy. Picture: Tara Croser.

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