Huge riverfront estate to test market after Brisbane floods
News Corp Australia Network
This property at 8 Glasnevin St, Indooroopilly, is going to auction on April 14. Picture supplied by Ray White.
Demand for premium waterfront properties in the wake of the recent floods will be put to the test with a cherished family estate just metres from the Brisbane River hitting the market for the first time in 43 years.
The riverfront home on 4000 sqm at 8 Glasnevin Street in a tightly-held pocket of Indooroopilly has never flooded due to its 12m elevation and is attracting multimillion-dollar offers despite the devastation that swept through the area only a month ago.
Putin’s $932m super yacht with gold toilet paper
Former Socceroo lists vacant beach block
4 Ingredients author lists QLD home
The tennis court at the property at 8 Glasnevin St, Indooroopilly. Picture supplied by Ray White.
Marketing agent Tom Lyne of Ray White New Farm said he had already received two offers and multiple inquiries, mostly from high-net worth, local families looking to upsize.
“It’s a slice of history on one of the highest points in Indooroopilly,” Mr Lyne said.
“You wouldn’t even know you were in inner-city Brisbane.”
The home at 8 Glasnevin St, Indooroopilly, has been cherished by the same family for 43 years.
Mr Lyne, who is taking the home to auction on April 14, said interested buyers were not put off by the property because of its elevation.
“If anything, I think people are putting a higher value on riverfront locations that are flood-free,” he said.
The grand Queenslander home has been immaculately maintained.
It is hard to compare the property with others in the suburb because of its uniqueness, but recent sales include 78 Jilba Street on 6000 sqm, which fetched $12 million prior to auction last year, and 61 Dennis Street on 2100 sqm, which sold for $4.5 million at auction last July.
This property at 78 Jilba Street, Indooroopilly, sold for $12m in November last year.
The property is owned by David Crombie, a long-serving Australian agricultural leader, who has served in a range of prominent national roles including chair of Meat & Livestock Australia and president of the National Farmers Federation.
Mr Crombie is also a former president of the Australian Rugby Union and scaled the game’s elite levels as a player, representing Queensland as a hooker.
Former National Farmers Federation president David Crombie.
These days Mr Crombie has largely stepped back from industry affairs and executive positions.
“It’s been a wonderful family home and we have had some many happy occasions here over 43 years,” Mr Crombie said.
The formal dining room inside the home at 8 Glasnevin St, Indooroopilly. Picture supplied by Ray White.
“We’ve raised our five children and had many engagement parties and even weddings on the lawns. It’s been a wonderfully happy family home.”
The grand, main house has five bedrooms and four bathrooms, a wine cellar, a rumpus room with kitchenette and an internal lift.
The property at 8 Glasnevin St, Indooroopilly, as seen from the street. Picture supplied by Ray White.
“It’s been beautifully designed to take advantage of the Queensland lifestyle with every room opening onto a verandah,” Mr Crombie said.
There’s also a grass tennis court, a pool house, a pool, a barbecue entertaining area, a workshop and a gazebo.
The Crombies will next divide their time between their new apartment in Toowong and their cattle property in Warwick.
The home offers verandahs to enjoy the Queensland climate. Picture supplied by Ray White.