Brisbane’s Gucci House sells for $12.5m

It took just 88 days for this statement home on the edge of the Brisbane river to sell in one of the city’s biggest deals of 2022, complete with $1m of furniture.

The Gucci House sold for $12.5m

A one-of-a-kind mansion dubbed the Gucci House positioned along the edge of the Brisbane River has sold for $12.5m in what is one of the city’s biggest deals of 2022.

With a bold, black European-inspired facade and colourful interiors, 29 Laidlaw Parade in East Brisbane sold in less than three months as the River City continues to move through the end of the property boom.

Listed just days after the city’s devastating February floods, Place Kangaroo Point agent Michael Bacon used a video of the water lapping below the property line at the river’s peak levels to give confidence to buyers interested in the property.

It appeared to have worked, with the home lasting just 88 days on market despite the average days for homes valued over $10m in Brisbane being 386 days. Much of the interest came locally, spanning the Gold and Sunshine Coasts.

Mr Bacon said he is dealing with several high-net-worth individuals looking for a home of this calibre.

“It is good to see local people having confidence in our market and economy,” Mr Bacon said.

“Dealing with this price point, people want honesty and transparency and this isn’t happening enough in this industry.”

The Gucci House

The property received seven registered bidders when it was taken to auction. Six bids were placed ranging from $7m to $11m and despite being passed in, sold two weeks after for $12.5m.

More than 1.89m people viewed the property online, generating 187 inquires and encouraging 98 groups to view the home in person.

The artfully crafted home was designed and styled by multi-award-winning designer Greg Natale and built by Corey Stone from CHS to offer the charm of the last century with top-of-the-line modern amenity.

Loud, high-end wallpaper is expertly used throughout and is highlighted by black and gold pallet and mid-century furnishings.

Gucci wallpaper was used in the master suite on the third floor, while each of the other four-bedrooms are equally as loud, expertly balanced with understated, high end furnishings, all of which were included with the sale.

The private quarters are in stark contrast to the living areas, decked out in black and stone, accented with gold for a refined and up-market feel.

One of the statement pieces within the open-plan entertaining space in the handwoven wallpaper of cranes against a gold and red background, which cost upwards of $150,000.

The mansion stands a commanding three-levels on a 597sq m block, with all the finishings one would expect of a high end home including a stunning entertainment space and pool, fully-equipped home theatre, lift, gym, sauna, steam room, ice-bath room, library, study, butlers pantry and space for a wine cellar.

More than $1m of furniture was sold with the home, which cost $8m to build.

In March, a $17.25m deal was struck on an aged home on a hectare of land in Brisbane’s suburban south. The Robertson property at 673 Musgrave Rd was sold by Ray White’s Sunnybank Hills Jimmy Lu to a developer interested in townhouses.

A bend of the river down from the Laidlaw St address, 154A Virginia Ave, Hawthorne achieved $15m through Ray White Ascot’s Dwight Ferguson in February.

Double digit sales in the city aren’t only confined to houses, with a penthouse apartment along the river in the prestigious suburb of New Farm selling for $11.5m. The off-the-plan purchase within developer Azure’s One Five Six Oxlade by a local buyer was facilitated by Place Kangaroo Point principal Simon Caulfield and marks the highest price point per square metre in Brisbane for a unit.