A Toowong Riverfront Property Sells for $7.3 Million at Auction, Sets a New Suburb Record

oowong Riverfront Property Sells for $7.3 Million at Auction

A riverfront property in Toowong has been sold under the hammer for $7.3 million, setting a new suburb record for a private home.

A crowd of 100 people gathered to witness bidders battle it out for the prestige of owning the river-front property at 24 Glen Road, Toowong. After the dust settled, a Taringa family purchased the property for $7.3 million, a new suburb record, last 31 October 2020.

The three-storey home, situated on a 1,756sqm flood-free allotment, has 20 metre of river frontage and offers views of the Brisbane River and the city. Built in the 1930s, the abode gives traditional Japanese architectural features a modern twist. Stone walls, water feature, and tropical gardens greet visitors upon entry. 

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Timber and bamboo flooring and timber features dominate the structure including decorative timber doors, timber framed windows, and timber staircase. The house also includes Japanese-style features in its design which includes sliding screens or what is called “shoji” and high panels, “ranma,’’ above doors and walls.

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At the lower level is a large studio that can be used and converted for a variety of purposes such as home office, gym, yoga studio, or game room. Also on this level is a kitchenette, bedroom, bathroom and library that opens on a large undercover deck. 

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The master bedroom is situated on the upper level with river views. It has a large walk-in-robe and an ensuite with spa bath, double vanity, and a large shower.

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Meanwhile, the kitchen boasts of modern features including Gaggenau wall ovens, NEFF induction stove and rangehood, and integrated Liebherr fridge/freezer. There is a large island bench, breakfast seating, stone benchtops, and joinery plus lots of storage.

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Agents said that while most riverfront blocks in the area have been converted into high-rise developments, all of the bidders for the site are owner-occupiers. The sellers purchased the property in 1997 for $1.2 million, property records say. They plan to move into the penthouse of a riverfront property in St Lucia currently under construction.