White Energy managing director, mining engineer Brian Flannery, has outmuscled developers and not-for-profits for a Sisters of Mercy ex-novitiate, in inner-city Bardon.
The 14.8 hectare hilltop site, 371 Simpson Road, is trading for $14.5 million.
A not-for-profit venture is planned, according to sources.
Cushman & Wakefield’s Mike Walsh and Peter Court represented the vendor, which has operated at the property from the 1950s, but will now relocate to the St Vincent’s Convent in Nudgee, which is being renovated.
Bardon is about five kilometres north west of town.
371 Simpson Road
Also with frontage to Macrae and Gordon roads, the site is believed to be the inner-city’s privately held largest land holding (story continues below).
Sisters of Mercy used it for offices, accommodation and conferences.
The agents marketed it to residential and aged care developers; about 1.3ha is exempt from a protection order and could make way for multiple mid-rise buildings.
Schools and wealthy individuals were also targeted.
The deal comes two months since businessman and Racing Queensland chair Steve Wilson and his wife, Jane, paid a speculated c$6m for Kangaroo Point’s historic, unrenovated Lamb House.
Not long prior, Brisbane Bronco’s chairman and Ord Minnett managing director Karl Morrison, with his wife, Louise, paid about $16m for a neighbouring property – 1 Leopard Rd – which when it sold in 2017 (for $18.5m) set a record for a residential home in the Queensland capital.
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