A piece of New Farm history will be restored after a grand Queenslander on a double block was sold under the hammer, its first time on the market in over 100 years.

One of New Farm’s original homes, Doralma has stood at the corner of Oxlade Drive and Hazelwood St since it was built in 1910 for William Stanley and his wife Rosa Oxlade, after whose family the prestigious Oxlade Drive was named.

Doralma at 123 Oxlade Drive, New Farm. The frangipani tree on the far left is 100 years old. Picture: supplied

The three-bedroom house on its 860sq m block at 123 Oxlade Drive, New Farm has been in the same family ever since and great-great-grandchildren were in the crowd of 80 to see the home of their descendants go to auction.

“It’s a very special occasion,” Rosa Oxlade’s granddaughter, Libby Black, said while nursing her own granddaughter, Bronte Black.

“There’s about 13 of us who have come today.”

Oxlade Drive is real estate gold in inner-city New Farm, with three of the suburb’s top six sales coming from this riverside address, ranging from $8m to $10.2m. The suburb is also one of only two in Brisbane where the median house price has topped $3m, joining neighbouring Teneriffe.

Ray White auctioneer Haesley Cush welcomed the crowd and began introducing the property at the same time as a late bidder filled out his registration form, using a telegraph pole outside the property to support the paper as he wrote.

Ray White auctioneer Haesley Cush opens the auction of 123 Oxlade Drive, New Farm before a crowd of around 80. Picture: Debra Bela

In the front garden, respected Gold Coast agent and principal of Lacey West, Tony West, waited for Mr Cush to finish talking about Brisbane’s golden decade before placing an opening bid of $3m.

Despite five registered bidders in the crowd, only the late registration – a local identity looking to land bank the property – engaged with him above this level, offering $3.1m for the home.

Mr West returned fire with an offer of $3.2m and then increases shortened with bids of $3.25m and $3.3m.

“Nick, my instructions please,” Mr Cush asked of Ray White Clayfield Principal Nicholas Given.

The auction paused as Mr Given and Ray White New Farm principal Matt Lancashire consulted with bidders and Rosa Oxlade’s granddaughter, accomplished author and estate executor, Judy Magub, who was inside the home.

An increased offer of $3.425m was given by Tony West and the property sold under the hammer, but not to Mr West.

“Tony has been a family friend for many years,” said Sally Yeates of Indooroopilly, who had been standing beside Mr West with her husband Darren and emerged as the actual buyer of the property.

“Darren’s parents and (Mr West’s) parents lived at Boonah and were best mates growing up.

“We are going to definitely keep the house. We don’t intend to develop it or split the block, we have no intention of selling anything off. We will do it up and live here.”

The couple has already engaged local architect Nicole Weston – who worked with them on their current house in Indooroopilly – to help with designs for the historic home.

Article source: Queensland Property Investor