A GRAND statement home owned by Australian businessman John Mulcahy has sold for $4.8 million to a local Brisbane buyer.
The Mulcahy family originally came to Brisbane for work, but ended up staying for longer than they intended.
After initially renting at Teneriffe, they bought the residence at 579 Lower Bowen Tce, New Farm, and set about completely renovating it.
Mrs Mulcahy told The Courier-Mail that they loved the property and the area, but were moving back interstate.
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“We fell in love with Brisbane, essentially,” she said.
“We were always only going to be there for a work stint, and then it just grew on us as a home.
“We purchased this house that required renovations; it had great bones and good-sized land.”
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The residence was gutted during the renovations and transformed into a large family home offering a modern take on a traditional Queenslander.
The property is on a 1012 sqm block with 25 metres of street frontage.
Ray White New Farm principal Matt Lancashire, who recently finalised sale after lengthy negotiations, described the property as “the most adored house in New Farm”.
“It’s the house everyone drives past on a Sunday and takes a photo of,” he said.
“The position is unbelievable and the level of finish — it’s meticulous the way it was built.”
Mr Mulcahy is a director of ALS, Mirvac Group and GWA International.
He was previously the CEO of Suncorp-Metway.