Brisbane clifftop sale reaches a new residential property high

A new Brisbane residential property record has been set with the sale of a clifftop house at Kangaroo Point.

John Longhurst’s home on Tamborine Mountain.

A new Brisbane residential property record has been set with the sale of a clifftop house at Kangaroo Point. It was sold for $18.48m through Ray White New Farm agent Matt Lancashire. The sale by City Motor Auctions Group boss Angelo Russo and wife Sandra eclipses the previous Brisbane record of $14m set in late 2014 by a Gina Rinehart purchase. The vast 1445sq m split-level house with five bedrooms and six bathrooms was the work of designer Greg Harris. Its features include a heated infinity lap pool and spa running the length of the cliff edge with views of the river and city. The marketing suggests no expense had been spared by the owners, with heated St Lorraine marble flooring. Russo paid $4.74m for the house in 2009 when he bought from lawyer Tony Barakat, who paid $6.3m two years earlier.

A doctor in South Yarra house

The South Yarra home of Melbourne developer Michael Yates and wife Lou has been bought by Renee Bittar, the neuroscientist managing director of Precision Brain, Spine and Pain Centre. The five-bed mansion on Walsh Street fetched about $11m, below the $12m-plus guidance when listed in September. The 1930s house sits on 800sq m near the Botanic Gardens. The house was probably sold by Kay & Burton, just days after Yates had commissioned the Marshall White agency to take the property to a late March auction. Yates paid $1.73m in 1997 for the house that had been renovated by the designer Stuart Rattle.

Mountain ride comes to an end

Dreamworld developer John Longhurst has seemingly found a buyer for his Tamborine Mountain mansion, which Nick Zhang of Amir Mian Prestige Property Agents has on his books as “under offer”. When Longhurst listed the house last year, it was reported it had never been lived in following its $2.3m purchase from former Broadbeach councillor Eddy Sarroff in 2010. Longhurst said it was “time to move on” following a $5m renovation. Built in an A-frame shape on seven hectares, the three-level house features a home theatre and a lift. Longhurst sold Dreamworld in 1989 for $180m and sold his remaining share of shopping centre Logan Hyperdome for $350m in 2013.

Banker withdraws from Dalkeith

Sirona Capital managing director Kelvin Flynn and wife Vanessa have sold their Dalkeith home for $2.955m, close to the $3m-plus asking price, through Acton Cottesloe agent Deborah Brady. The four-bedroom house on 1315sq m comes with a tennis court and heated swimming pool. Kelvin founded the merchant bank in 2009.

Collector pulls out of tram shed

A historic cable tram shed in North Melbourne converted into a family home has been sold for $6.5m through Jellis Craig agent John Morello. It was bought three years ago for $3.35m by car collector Chris Page so he could expand his collection. The historic 1918 building had previously sold in 1978 for $155,000. It is now a vast five-bedroom house with a big garage downstairs and a street-facing mechanic business. The buyer was another car collector.

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