Grand Ascot homestead ‘Kulumadau’ sold for $2.3m

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Aug 19, 2020

Grand Ascot homestead ‘Kulumadau’ sold for $2.3m

Sold by Christine Rudolph of Ray White New Farm, who told WILLIAMS MEDIA, “The Brisbane prestige market continues to perform well.”

Ray White New Farm
Ray White New Farm

On the market for the first time in 60 years, this grand Ascotian Queenslander has a new owner, only the third since the 1930s.

The approx. 1,215sqm property was sold by Christine Rudolph of Ray White New Farm for $2.3 million following a 40-day campaign, made challenging by COVID-19 restrictions.

“This was an incredibly challenging sale as we planned for 12 months to put the grand old dame to the market,” Christine told WILLIAMS MEDIA.

“The Brisbane market was off to a great start for 2020. We launched at the end of February and had huge numbers of interstate buyers looking to relocate to Brisbane. But COVID hit only a week before auction. Our open homes were cancelled and so was the auction. Our two hottest buyers were also affected by COVID shutting down their businesses and withdrew their interest, so we had to start from square one.”

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Source: Ray White New Farm

Spanning three lots in the heart of Ascot, ‘Kulumadau' saw a large amount of enquiry from families who were interested in the comfortable and spacious residence and its large leafy surrounds with swimming pool and mature gardens. 10 virtual inspections and 80 in-person inspections were held during the campaign.

“This was the first time in more than 60 years this property had been presented to the market in one of Brisbane's most highly sought inner city suburbs. The gracious Queenslander homestead spanned three titles on a generous 1,215sqm allotment and it is rare to find such land allotments so close to the city.”

“Our sellers had always wished that a lovely family would buy their home to take into the next chapter of history,” Christine explained to WILLIAMS MEDIA. “After cancelling the auction our clients decided to list with a price and within a week of changing our strategy, we had an offer from a young local family who decided to buy their dream home. They plan to renovate and add a tennis court, making this their forever home.”

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Source: Ray White New Farm

In light of the sale, Christine told WILLIAMS MEDIA the future continues look bright for Brisbane.

“The Brisbane prestige market continues to perform well with the top sales in Brisbane each week consistently ranging in the $2-5m category, despite COVID. While there was a dip in buyer confidence in April at the start, this was short-lived and our position has continued to strengthen as local buyers are quick to seize opportunities of buying blue chip property with less competition from interstate and overseas buyers.”

“We are seeing a massive amount of this inquiry and some of these clients are now engaging buyers agents to make decisions on their behalf as they plan eventually to return to Brisbane. I predict that the Brisbane market will be in high demand with a strong interstate migration post COVID and there is no doubt that many expats are looking to return home as they want to be with their families rather than forced into a worldwide border lockdown unable to travel. Brisbane property is regarded as exceptional value and our lifestyle and climate even more attractive to interstate and overseas buyers.”