Two minutes away from Gina Rinehart’s mega mansion in Queensland sits an uninhabitable pre-war property that is set to make its owners a fortune at auction
- A three-bedroom rundown home has hit the market near Brisbane’s CBD
- The home is just minutes away from mining magnate Gina Rinehart’s mansion
- While currently ‘uninhabitable’ the home has city views on a 810sqm block
A rundown and ‘uninhabitable’ home just minutes away from mining magnate Gina Rinehart’s mansion has hit the market with experts predicting it will earn its owners a fortune.
The three-bedroom home on Philip Street, in Hawthorne, Brisbane, isn’t much to look at but is expected to sell fast when it goes to auction next week due to its prime location.
The home, which sits on top of a hill, has sweeping city views, is just a block back from the riverfront and a short drive away from shops and restaurants in the city’s CBD.
The decrepit estate is believed to be more than 100 years old and the front stairs have completely fallen off.
The three-bedroom home on Philip Street, in Hawthorne, Brisbane isn’t much to look at but is expected to sell fast when it goes to auction next week due to its prime location
Ray White real estate agent Daniel Lazzaroni told Daily Mail Australia the home is believed to date back to as early as 1917, and due to its character, isn’t allowed to be knocked down.
‘Anything pre-war you have to keep its facade,’ he said.
‘It’s sort of that iconic house in the area everybody knows, it’s got this really beautiful, grand character.’
Open houses have proven to be difficult for the selling agents the lack of stairs and crumbling timber flooring mean potential buyers aren’t allowed to enter several rooms of the house.
‘We’ve had to get a structural engineer out and now we’ve got a little map prospective buyers can walk through,’ Mr Lazzaroni said.
Only two potential buyers are allowed through at a time.
Open houses have proved to be difficult for the team as due to safety reasons they aren’t allowed to enter several rooms of the house
Mr Lazzaroni said the property has garnered a lot of interest even before it was listed.
He said the 810sqm block is ‘definitely going to sell’ when it goes to auction next Saturday.
While the neighbouring house is currently ‘uninhabitable’, the property is able to be sub-divided.
It’s also walking distance to local private schools and 17 minutes away from the city’s airport.
The house sits just streets away from Ms Rinehart’s luxurious waterfront mansion on Aaron Avenue.
Wingfield Ave Pty Ltd, a company owned by Gina Reinhart, bought the palatial riverfront Queenslander in August 2014.
At the time of the deal it was the highest residential property sale in Brisbane, at $18.5million.
In May 2018 property records revealed it has now been transferred into Rinehart’s name.
The house sits just streets away from mining magnate Gina Rinehart’s luxurious waterfront mansion on Aaron Avenue
Rinehart bought the sprawling home in Hawthorne back in August, 2014