Why A.B. Paterson College snapped up $1.5m Gold Coast home

A private Gold Coast college has splashed $1.5m on a six-bedroom home just around the corner from school grounds. Find out why

A private Gold Coast college has snapped up a $1.5m, six-bedroom home just around the corner from school grounds.

A.B. Paterson College purchased the 880 sqm property at 9 Maltravers Dr, Arundel, and took possession on March 17.

9 Maltravers Dr, Arundel.

Principal Joanne Sheehy said the property was purchased as part of the capital expenditure budget to house teachers and other staff.

“When a property near the college becomes available, we carefully consider all relevant factors such as price, location and future use,” Ms Sheehy said.

The backyard of the Arundel home.

“In this case, we have decided to purchase the home because it represented a fair market value and also a strategic opportunity.

“We have earmarked the home for future accommodation for teachers and other staff who may move to the area from interstate or overseas.

“For the time being, however, we will make it available to the Gold Coast rental pool, to make a small contribution to the region’s housing shortage.”

A.B. Paterson College principal Joanne Sheehy.

The Arundel home boasts three bathrooms, a grand entry, large pool, chandeliers and a statement staircase.

The college also owns a 6070 sqm property in the central west Queensland town of Winton, which is used for school camps.

The loungeroom of the home A.B. Paterson College purchased in Arundel

A.B. Paterson made headlines last month when it was revealed the college would receive a seven-hectare land gift as part of the controversial Arundel Hills Country Club redevelopment plan.

If approved by council, the school would use the land for sport and recreational activities.