The Shafston Estate at Kangaroo Point is again looking for a new owner and has attracted local and international interest
An expansive Brisbane riverfront property with one of the city’s oldest houses is on the market and has attracted local and offshore interest.
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SIX years after failing to sell, entrepreneur Keith Lloyd has put his historic riverfront property Shafston House on the market again in a campaign that has attracted local and international interest.
Part of the Shafston International College campus, the 1ha Shafston Estate at 23 Castlebar St, Kangaroo Point, includes six campus buildings including the 168 year-old heritage-listed building.
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Shafston Estate and other holdings were previously marketed in 2013 as leaseback but failed to sell.
Cushman & Wakefield’s Andrew Gard, who is selling the property with his brother Michael, said it was now on the market for owner-occupiers as well as investors.
“It’s incredibly rare to find a 1ha direct riverfront land parcel just 1km from the CBD,” he said.
“This is the first time in over 150 years that the freehold title has been offered directly to the market for sale.”
One of the oldest homes in Brisbane Shafston House was designed by Robin Dods and built in 1851 by pastoralist and explorer Henry Stuart as a single story home. It was added to and improved up until the 1930s.
The estate was acquired by the Australian Government in 1918 to accommodate servicemen and was later the Brisbane headquarters for the RAAF.
A former shipbuilder Mr Lloyd acquired the leasehold of Shafston House from restaurateur Gary Balkin in 1994 and he converted it to freehold, building the campus around it.
It is understood that if sold the campus’ operations on the estate will be consolidated into other nearby buildings.
Michael Gard said the campaign has attracted local and international interest.
“This is truly one of Australia’s most prestigious properties due to the scale of the land, it’s northern aspect and views of two reaches of the river and CBD,” he said.
“Given the property has been successfully occupied by Shafston International College for over 20 years, we’ve has interest from education groups and a wide range of domestic and international buyers.”