Prestigious 'Balaam' sets 2015 record in Brisbane

In a deal reported to be the biggest residential sale in Brisbane this year, Ray White New Farm’s Matt Lancashire has sold the prestigious ‘Balaam’ property owned by

Consolidated Properties’ Executive Chairman Don O’Rorke.

In Brisbane’s Hamilton, the architecturally designed home sold to a Queensland local buyer from the Gold Coast for an undisclosed amount, but believed to be circa $12million, and as per selling agent Matt’s original advice - with a settlement this financial year.

The buyer has indicated the property will be maintained for residential use.

The highly sought after eight bedroom, nine bathroom property designed by architect Shaun Lockyer, on the market since February also came with a second title and development application for a 10-storey riverfront building.

Brisbane has seen a surge in the prestige market, with many homes over $5million selling in a short period according to Ray White New Farm Sales Principal Matt Lancashire.

“We have been seeing a massive resurgence in Brisbane’s prestige market with homes over $5million continuing to come to market over a short period of time, as evidenced by the sale of Balaam,” he said.

Mr. O’Rorke will take on a new project in Brookfield where architect Shaun Lockyer will design his next dream property; a 10 acre parcel of land with a heavy equestrian focus.

He said that he was very impressed with the Ray White organisation in the sale of Balaam.

“Matt provided good initial advice around the market value and conditions, and he executed the marketing campaign very well, with a great result,” he said.

April saw selling agent Matt Lancashire have his personal best month, selling an impressive $20.5million worth of property in April 2015.

Ray White chairman Brian White said the south east Queensland market was benefitting from Sydney’s sustained strength.

“In my experience, Brisbane always benefits from a strengthening Sydney. A ripple effect from a remarkably strong Sydney market impacts Brisbane eventually, giving confidence to the South East Queensland market place also.”