This article is from the Australian Property Journal archive
PRIVATE school Brisbane Boys’ College has paid $17 million for a heritage-listed 1800s homestead in Brisbane’s wealthy suburb of Toowong.
The Goldicott House site at 65 Grove Crescent has been in the hands of south east Queensland developer Pikos Group for several years, which paid $8 million for the 1885-built property.
It unsuccessfully sought to gain planning approval for a redevelopment of the 1.23-hectare site, attempting to get the green light for a multi-level apartment project and then an aged care facility that would house 600 residents. Both were rejected by the state’s Planning & Environment Court.
A development venture was explored with Heathley Asset Management while finance group Balmain was last year seeking investors for the site, with a prospectus reading the borrower is considering multiple development strategies which are consistent with planning objectives for the property, including an aged care facility comprising 150 beds and 150 independent living units”.
Brisbane Boys’ College becomes just the fourth owner in the property’s history and is expected to use the property as an education asset.
Goldicott House has nine bedrooms and four bathrooms, two kitchens and wide wrap-around verandahs. The site also includes the former St Ignatius College music building and other outbuildings.
The site of the first poured concrete slab in a Queensland building, Goldicott House was built for Brisbane engineer Charles Lambert Depre, and in 1903 became the Mount St Mary’s Convent after being purchased by the Sisters of Mercy.
