$8M sale sets new record for Paddington

 $8M sale sets new record for Paddington

The sale of a mansion in Brisbane’s Paddington has smashed the suburb’s sale price record for the second time in less than a month.

The 1,55sqm property at 22 Reading Street was bought by Australian millionaire developer Paul Gedoun and his wife in 2017 and sold for $8 million at the beginning of March.

The five-bedroom, seven-bathroom estate attracted more than 100 inquiries in the 24 hours between being listed online and being sold, and easily beat the suburb’s previous top price of $7,750,000, .

Once you’ve been through the property it’s not hard to understand how it impressed so many. The multi-level smart home sits on one of Paddington’s highest points, affording it fantastic views of the CBD and surrounding suburbs. 

A long driveway leads back from the street, past a home office and guest quarters to a six-car garage, with a fantastic al fresco space beyond that. Lush lawns stretch away from a 25-metre double lap pool, connected to the house by the entertaining courtyard. The space hosts an integrated barbecue and dishwasher, a separate powder room, and plenty of room for sunbathing and dining.

From the ground floor, take the stylish timber staircase up a level for the best movie night you can find outside of Gold Class, thanks to a multi-metre projector screen. There are four en suite bedrooms on this second level, plus a quiet, south-facing side verandah and a covered balcony.

The top level enjoys a wrap-around balcony, an open plan kitchen, dining and living space, and a beautiful master suite. Polished timber floors lead out to the main, east-facing balcony with incredible views of the city and an integrated cooking station. Thanks to sliding doors those views are visible all the way back to the kitchen, which is a vision in itself. Cooking is a dream, thanks to top of the range appliances, integrated technology, and if you can leave the stone benchtops behind for a minute you’ll find a spacious butlers’ pantry!

Situated at the back of the house, the master suite is a specious, elegant retreat. There’s a separate study, a large, timber-floored walk-in robe, and a gorgeous marble en suite. Floor-to-ceililng Italian tiles line the space, which boasts a double shower recess and a freestanding tub beneath statement pendant lighting.

It’s no surprise that despite plenty of interstate interest, the property was bought by a local buyer. Only a local would fully understand the site’s perfect positioning just three kilometres from the CBD and a short walk from nearby shops and cafes. All that remains to be seen is whether the mansion’s $8 million sale price will be beaten again!


22 Reading Street, Paddington, Qld 4064


Matt Lancashire  – 0416 476 480
Ray White

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