Brisbane's Lamb House SOLD
Lamb House, Brisbane's heritage-listed, riverside mansion, sold to Racing Queensland's Steve and Jane Wilson
Story by Phoebe Hosier ABC 5 hours ago
Racing Queensland's Steve and Jane Wilson have been revealed as the new owners of Brisbane's multi-million-dollar, heritage-listed Lamb House.
Heritage consultant Ben Galle says restoring the home is likely to cost $15 million
The 119-year-old mansion was placed on the market after its former owner failed to pay more than $300,000 in council rates
The former owner says she does not accept the sale outcome
Savills real estate agent Robert Dunne confirmed the grand home had been sold on Friday but would not say how much for.
The dilapidated, 119-year-old Kangaroo Point mansion was placed on the market after its former owner, Joy Lamb, failed to pay more than $300,000 in council rates.
The Wilson couple beat several bidders, including international tenders and prominent Brisbane property developer Kevin Seymour, to secure the 3,146 square metre property.
Mr Wilson, a stockbroker and the chair of Racing Queensland, last week told the ABC he was "passionate about the role of fine buildings, parks, environments and places of historical significance — both for our First Nation people and subsequent immigrants".
It is understood the couple will spend several million dollars restoring the crumbling landmark building, which has been unoccupied for a year.
The Public Trustee has been handling the sale of the six-bedroom, cliff-top house.
Former owner Ms Lamb said she only became aware of the deal when her sister phoned her on Saturday morning.
She told the ABC she did not accept the outcome.
"I'm shocked to the core. I just do not believe it," Ms Lamb said.
The mansion offers sweeping views of Brisbane, from the Story Bridge to South Bank.
The riverside house, listed on the Queensland Heritage Register, has fallen into disrepair, with parts of the ceiling caved in and rubbish and graffiti left behind by squatters.
The sale comes after the Brisbane City Council placed a permanent protection order on the historic home to stop it from being demolished or subdivided by developers.
"As much as we respect Joy Lamb's family history with the place, it was clear the current situation couldn't continue in that condition.
"The property had substantially deteriorated and needs urgent work to bring it back to its former glory."
Mr Galle said $15 million sounded like an accurate cost for a full-scale restoration of the property.
He said with "sensitive redevelopment", the property would need a lot of contemporary work "to bring it up to the 21st century", including the installation of air-conditioning, wi-fi and electrical upgrades.