THE long-time home of millionaire entrepreneur Terry Peabody and his wife, Mary, has finally sold following an on-again, off-again sales campaign that has lasted more than seven years.
One of Brisbane’s largest riverfront properties, White Waltham, at 28 Zelita Rd, Moggill is a grand 4.64ha estate some 30 minutes from the CBD, with botanic gardens, a main residence, a summer house, two tennis courts, a pool, a helipad, and a caretaker’s house.
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Its 300m river frontage makes it the widest residential riverfront home in Brisbane.
Adcock Prestige Queensland principal Jason Adcock negotiated the sale for an undisclosed price. It was last advertised for offers over $7.5m, but it is understood interest was in the $5m range.
Mr Adcock declined to comment due to a confidentiality agreement with the buyer and seller.
Mr Peabody also declined to comment on the sale when contacted.
Mr and Mrs Peabody had owned the property for 46 years. Now in their 80s, they have downsized to a penthouse in Kangaroo Point.
Mr Adcock tried to sell it at auction in October last year, advising all interested parties to ignore the property’s previous $12m price guide.
The median house price in Moggill is, in Brisbane’s west, is $887,000, according to the latest PropTrack data.
Mr Peabody, who is estimated to be worth $639m, bought the land that became the Craggy Range winery in New Zealand in 1993, as part of a plan to create a family legacy, but he made his fortune in waste management, floating Transpacific on the ASX before eventually selling out in 2013.
The Brisbane-based richlister bought three neighbouring properties to create the sanctuary at Moggill for his wife and three children.
“We love the property and loved being there,” Mr Peabody said during the home’s 2021 sales campaign.
“It’s still our principal home but some time ago we bought a penthouse in the city in the same building that my daughter lives in and my wife is keen to live there. We travel so much now we are rarely at home and we have decided regrettably to put the house on the market.”
Mr Adcock described the estate as “a world-class, riverfront estate, with some of the most spectacular grounds and gardens of any acreage property that I have sold in the last 30 years”.
He said he had previously received strong interest from local, interstate and international buyers and expected a significant number of inquiries from prominent local businesspeople, Melbourne and Sydney buyers looking to move north to the 2032 Olympic Games city, and expats returning from Hong Kong, Singapore and the UK.
The estate has a six-bedroom main residence with formal and informal living zones, billiard room, wine cellar, home office, chef’s kitchen, and a stunning glass conservatory overlooking the river.
There is also an additional residence, which could be used as a caretaker’s home or for multi-generational families and a beautiful purpose-built summer house by the river for entertaining and larger events.
The property also comes with an orchard, in-ground swimming pool with its own entertainment pavilion, bathroom and sauna.
Mr Adcock and his colleague, Elisa McMahon, have also just negotiated the sale of a five-bedroom newbuild in Ascot for $5.9m.
The property at 21 Mayfield Street passed in at auction for $5.5m two weeks ago.
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