Racing Queensland chair, businessman Steve Wilson, and his wife, Jane, have acquired Brisbane’s Lamb House with plans for a major refurbishment.
The c1902 Kangaroo Point mansion was listed five weeks ago by Brisbane City Council, which seized control from the long time owner, Joy Lamb, who owed about $300,000 in unpaid rates.
At 9 Leopard Street, the dilapidated double storey Federation has postcard CBD views over the Brisbane River.
It had recently been valued at $6.1 million.
The restoration cost had been put at c$15m.
The deal comes three months since Brisbane Broncos chairman and Ord Minnett managing director Karl Morris and his wife, Louise, paid $16m for the neighbouring, uber-contemporary 1 Leopard St.
That vendor spent $18.488m in 2017 – setting the record for a Brisbane home.
Three years ago, Gina Rinehart outlaid $18.5m on neighbouring properties in nearby Aaron Avenue, Hawthorne.
Also known as Home, the red brick 9 Leopard St was built for John Lamb, co-proprietor of city drapery Edwards & Lamb (story continues below).
On eight lots – covering 3146 square metres – and with frontage to Wild St, it was added to the Queensland Heritage Register in 1992.
It contains six bedrooms, a maid’s quarters, drawing room and parlour.
Ms Lamb vacated when part of the roof collapsed in 2015; it was listed for sale against her wishes.
Recently occupied by squatters, it has been vandalised.
The Wilsons are expected to reside there following the refurbishment
Mr Wilson, a stockbroker, established Hyperion Asset Management and Pinnacle Investment Management Group – the latter with funds under management worth c$85 billion.
He also chaired South Bank Corporation and is a Committee for Brisbane director.
Savills’ Robert Dunne and Will Carman sold Lamb House for the council.