‘Greylands’, one of Indooroopilly’s earliest estates, came to market today with price expectations in excess of $4.75m through Johnston Dixon agent Josephine Johnston Rowell. It’s a rare property with a colourful history, although its current pricing indicates the tight prestige market in Indooroopilly, the Brisbane suburb once considered among the city’s most desirable. It was only last April that Greylands sold for $6.5m (after shopping around the market with $9m-$10m hopes). During the 1990s, the property traded hands twice, both times in the low-$2mils and both times setting new suburb price records.
Greyalnds as it appeared in the mid-1930s
Greylands itself predates the suburbanization of Indooroopilly. Constructed under the design of architect-builder John Hall for lawyer Graham Hart in 1876, the home was situated on a 28 acre riverfront parcel with sweeping views that are now blocked by infill development. 10 years after the construction of the Queenslander homestead, the opening of Indooroopily Train Station led to the subdivision of land in the then-semi-rural setting. In the below parcel map from the 1880s, Greylands can be seen in the lower right hand corner with it’s 28 acre allotment still intact.
By 1918, Greylands was subdivided into its own estate of homes, leaving the 1 acre block that the home now rests in. And the name? Well, according to a 1932 article in The Queenslander, the name Greylands “would hardly describe lands by the river anywhere, it was not on account of the colouring of his 28½ acres that Mr Hart gave to the home that he had erected thereon the name “Greylands.” The name. I believe, was that of a favourite book, or one being read at the time.” That same article goes into great detail on the design and layout of the home that current floor plans reveal is largely in tact, save for extensive kitchen renovations. The 6-bedroom home comes with tennis court, pool, a large wraparound gravel driveway and period features aplenty.
But the price! Nearly $2m less than just one year ago? What gives? Let us know your thoughts in the comments.
More photos and listing information below the break.