Ray White New Farm sells converted boutique hotel

A boutique hotel in the Brisbane suburb of New Farm, converted to a residential home, has sold under the hammer for $3.275m.

Owners, Peter and Maria Gittoes, originally listed the property to sell commercially without success. Selling agent, Matt Lancashire, of Ray White New Farm saw a property that would be popular amongst residential buyers and suggested Mr and Mrs Gittoes list the property residentially.

“It’s an unbelievably attractive property and I could see straight away the appeal it would have to home buyers.

“We had five registered bidders at the auction all competing to secure the home. This truly is a telltale sign that the Brisbane prestige market is extremely strong at present,” Mr Lancashire said.

A property that is as extravagant as it is unique, 26 Chester Street, New Farm, has floor to ceiling murals lining the entrance hall, soaring ceilings and handmade grand features in common areas.

The master suite is a self-contained section with a private and fully equipped kitchen and lounge room, and Brisbane city views.

“There is 1,001 tonne of concrete that has gone into the building of this property. It’s not a surprise buyers were so keen to get their hands on this home, because there’s really nothing else like it,” Mr Lancashire explains.

Mr and Mrs Gittoes are staying local to the area.

“We love the area and will be moving locally. We hope that the new owners of this magnificent home fall in love with it the same way we did,” Mr Gittoes concludes.