The home at 84 Markwell Street, was built in 1937 as the home of a prominent Brisbane engineer Sir Edward Cullen, who made the Brisbane River one of the successful river ports of the era.

The house which was marketed by Jason Adcock and Elisa McMahon of Adcock Prestige was the second ever to be built on Hamilton Hill.

Mr Adcock said three bidders, two from interstate, initially registered to try to secure the home.

“Bidding stated at $5m and stalled at $5.25m and during a break in the bidding while we took instructions from the owner, another person decided to register,” Mr Adcock said.

“When we resumed the auction they came out straight away with a bid of $5.4million and were the successful buyer.”

Mr Adcock said the newly registered bidder, had viewed the property five times before the auction day, but had not registered to bid.

“When they registered, they asked if the seller would be prepared to have a 90 day settlement, which they were.”

He said the property had been extremely popular during the marketing campaign with 117 groups through before auction and 100 there on auction day.

Mr Adcock said the sale was reflective of the demand for prestige properties in Brisbane’s Bluechip hilltop locations since the recent floods.