The 120-year-old home at 60 Riverview Terrace, perched atop Hamilton Hill, last changed hands in May 2021 for $3.8 million. The property has now been secured by a local investor following a successful campaign led by Nick Roche of Ray White Ascot.
The sellers were said to be eager to find a buyer who would preserve the home’s character.
The domed tower, a defining feature of the residence, offers 360-degree views across Brisbane.
During World War II, the US military reportedly used the tower’s vantage point to monitor for incoming ships.
“We had about six different offers during the campaign,” Mr Roche said.
“We had an investor from the US, locals moving from the south side, and then developers as well who wanted to fully renovate the home and flip it because it has so much potential.”
During the campaign, there were always people driving by and taking photos of the iconic home, said Mr Roche.
“Of all my recent campaigns, this is the one that had the most attention.
“People loved the history, having been owned by the David Jones family and John Eales in the past. It’s a solid, brick house and has many extraordinary, unique features. It’s one of the most incredible homes I’ve ever seen.”
He said Riverview Terrace has some of the most unique homes in all of Brisbane and can command up to the $10–$15 million price range.
“I have no doubt in the years to come, once it’s been fully renovated to an extremely high level, this home could fetch $10m–$15 million plus too.
“The market in Hamilton is still really strong, especially above the $5 million price point. I’ve never dealt with such an influx of buyers looking in the $10 million plus price range, I’m even helping a few select buyers that are looking in the $20 million plus range. Stock is still tight but buyer interest is definitely there when owners reach out.”
Set on a 1026sqm block with dual street access, the property includes a main residence and a self-contained lower-level retreat.
It is just 5km from Brisbane’s CBD and close to Racecourse Road, private schools, and public transport.
The home retains original features including high ceilings, plaster mouldings, and a fireplace. Recent upgrades include a new zinc-alum roof, fresh exterior paint, a renovated bathroom, updated carpets, and polished timber floors.
The master suite includes a private study, walk-in robe and ensuite, while the home also offers formal lounge and dining rooms, a casual family zone, and an outdoor entertaining area with an in-ground pool.