Harvey Norman Ireland boss Blaine Callard loses $400,000 on his Brisbane apartment

THIS Harvey Norman chief executive has just sold his apartment at a massive loss, in a grim sign for the property market.

Harvey Norman boss Blaine Callard has made a big loss on his Brisbane apartment.

THE boss of Harvey Norman Ireland has taken a bath selling his Brisbane CBD sub penthouse.

Queenslander Blaine Callard has sold the investment property in the sought-after Admiralty Towers block for $400,000 less than he paid for it eight years ago.

The businessman had been asking for offers over $2 million for the 216 sqm sub penthouse apartment, but only managed to fetch $1.85 million.

Records show he paid $2.25 million for the investment property in 2009.

A three-bedroom, two-bathroom apartment in the same building sold for $1.55 million in May this year.

One of the bedrooms at 149/35 Howard St, Brisbane. Picture: CoreLogic

View from the balcony of 149/35 Howard St, Brisbane. Picture: CoreLogic.

The large apartment has four bedrooms, four bathrooms, a fitted home office, a large main bathroom with separate bath, a powder room, five linen cupboards, a modern kitchen with European appliances and views over the Brisbane River and Story Bridge.

Prime position on the riverfront. Picture: realestate.com.au.

The pool at 35 Howard St, Brisbane. Picture: realestate.com.au.

The property at 149/35 Howard St, Brisbane City, was marketed as “an immaculately presented sub-penthouse” with “unbelievable views”.

Selling agent Drew Davies said the sale contract was signed the same day as the listing agreement, showing the strong demand for CBD apartments at the moment.

Mr Davies said the property sold to a local buyer who had been looking for a while for a large, riverside apartment in Brisbane’s CBD.

“It’s one of the largest four bedroom units plus study in the CBD,” he said.

“There are a lot of serious buyers at the high end in Brisbane city right now.”

The open plan kitchen inside 149/35 Howard St, Brisbane. Picture: CoreLogic.

Mr Davies said he was about to list another apartment in Riparian Plaza for offers in the high $2 million range and already had two potential buyers interested.

Blaine Callard has been at Harvey Norman since 1995, holding a number of positions before becoming managing director of Harvey Norman Europe in 2006.

He took over the chief executive role in Ireland in 2010.

Originally published as Harvey Norman Ireland boss Blaine Callard loses $400,000 on his Brisbane apartment