Historic Queensland estate sold for estimated $20m
One of Brisbane's oldest residences Shafston House has been sold and the new owner plans to restore the property and the estate to its former glory.
Burgundy Group Property Development director Kevin Pan bought the riverside estate which was put on the market last year by multi millionaire Keith Lloyd who also put all of the contents from the estate, including his superyacht up for auction.
The Shafston Estate is a 1ha block at 23 Castlebar St, Kangaroo Point, and was home of the Shafston International College for more than two decades.
The sales campaign by Cushman & Wakefield's Andrew Gard and Michael Gard attracted national and international interest.
Industry sources say it sold for about $20m.
In a statement Mr Pan said he was attracted to the site and impressed by its heritage value and uniqueness.
To bring back Shafston House's former glory, Mr Pan will soon lodge plans with Brisbane City Council to undertake a restoration of the significant historic buildings, supported by a full heritage assessment of the site.
Under the restoration plan, the Shafston International College's contemporary campus buildings, constructed in faux heritage style, are earmarked for demolition, consistent with the Burra Charter and well accepted heritage restoration principles.
The restoration plan also proposes landscaping works to remove a tree that has been found by two independent arborists to be in poor condition due to ground fungal contamination and may pose a safety risk. New plantings to replace the tree have been propagated from the tree.
Shafston House was initially built by the Rev Robert Creyke in 1851 as a single storey cottage called Ravenscott, with several owners and stages of construction after that time.
It is one of the earliest houses surviving in Brisbane after Newstead House (1846) and Bulimba House (1849-50) and is a rare surviving remnant of a riverine estate that was typical of the early development of Brisbane in the nineteenth century.
Over the years Shafston House had a variety of uses including a private residence, an Anzac Hostel (1919-69) and accommodation for the Royal Australia Air Force (1969-87) and most recently an international education college from 1996.
In the 1990s the Commonwealth Government sold the site and the international college was established by Mr Lloyd and a new campus was built around the existing heritage buildings.
The site was entered on the Queensland Heritage Register in 2005 for its historical, cultural, and aesthetic significance.
Mr Lloyd, who made his name in shipbuilding in the mid-'70s, a business which he sold to Christopher Skase. He was also known as the past owner of the pink mansion, on the Brisbane River at Norman Park.
Originally published as Historic Brisbane estate sold for estimated $20m