After an on-again, off-again sales drive spanning more than seven years, Terry Peabody, a billionaire businessman, and his wife Mary’s longtime home has finally sold.
One of Brisbane’s largest riverfront estates, White Waltham, at 28 Zelita Rd, Moggill, is a stately 4.64ha estate with botanic gardens, a main home, a summer house, two tennis courts, a pool, a helipad, and a caretaker’s house. It is located around 30 minutes from the CBD.
Its 300m of river frontage makes it Brisbane’s widest residential riverfront property. Principal of Adcock Prestige Queensland Jason Adcock brokered the deal for an undisclosed sum. It was last listed for offers exceeding $7.5 million, however it is believed that interest was in the $5 million level.
A confidentiality agreement between the buyer and seller prevented Mr. Adcock from commenting. When reached, Mr. Peabody likewise opted not to speak on the purcҺase. The home has been owned for 46 years by Mr. and Mrs. Peabody. They downsized to a Kangaroo Point penthouse when they were in their 80s.
When Mr. Adcock attempted to sell it at auction in October of last year, he cautioned potential buyers to disregard the property’s previous $12 million price range.
According to the most recent PropTrack statistics, the median property price in Moggill, which is in Brisbane’s west, is $887,000.
Mr. Peabody, whose estimated net worth is $639 million, purcҺased the New Zealand property that would become the Craggy Range winery in 1993 as part of a family legacy plan. However, he made his wealth in waste management by putting Transpacific on the ASX before eventually selling it in 2013.
Richlister from Brisbane purcҺased three adjacent properties to build a haven for his wife and three kids near Moggill.
Mr. Peabody stated during the home’s 2021 sales campaign, “We love the property and loved being there.”
It’s still our primary residence, but my wife is eager to move into the penthouse we recently purcҺased in the city, which is in the same building as my daughter. We regretfully decided to put the house on the market because we are no longer at home very often due to our frequent travel.
According to Mr. Adcock, the estate has “some of the most spectacular grounds and gardens of any acreage property I have sold in the last 30 years” and is a “world-class, riverfront estate.”
He stated that he had previously experienced strong interest from local, interstate, and foreign buyers and anticipated receiving a sizable number of inquiries from eminent local businesspeople, buyers from Melbourne and Sydney seeking to relocate north to the city hosting the 2032 Olympic Games, and expats returning from Hong Kong, Singapore, and the United Kingdom.
The estate’s main residence is a six-bedroom property with formal and casual living areas, a wine cellar, a billiards room, a home office, a chef’s kitchen, and a spectacular glass conservatory overlooking the river.
Along with a lovely summer house on the river for entertaining and major gatherings, there is also another house that might serve as the caretaker’s residence or as a place for families with several generations.
The property also has a sauna, a restroom, and an orchard. The in-ground pool has its own entertainment pavilion.
A five-bedroom newbuild in Ascot has just been sold for $5.9 million thanks to Mr. Adcock and his colleague Elisa McMahon.
Two weeks ago, the property at 21 Mayfield Street was purcҺased at auction for $5.5 million.