PADDINGTON HOUSE RECORD SET WITH $12M SALE OF LANDMARK ‘GOVERNESS’ HOME

Queensland’s Paddington has a new benchmark.

The Brisbane suburb’s residential price record has been reset following the sale of ‘Governess’, a landmark 1860s-era home reimagined by local builder-developer GRAYA.

The five-bedroom residence at 49 Reading Street has transacted for more than $12 million, the highest price achieved in the tightly held inner-Brisbane suburb, underlining continued strength at the top end of the market.

GRAYA, led by brothers Rob and Andrew Gray, has built a reputation for delivering design-led homes and boutique residential projects, but ‘Governess’ represents one of its most ambitious undertakings to date, both in scale and execution.

The home was marketed by Ray White Collective’s Matt Lancashire and Josh Brown, who said the result reflects both the quality of the product and the depth of demand for premium homes in established suburbs.

“Governess is an absolute showstopper,” Lancashire said.

“It’s easily one of the most significant and meticulously transformed character homes ever to hit the Brisbane market, and the record result reflects exactly that.”

Brown said the sale reinforced a consistent trend emerging across Brisbane’s prestige market.

“To achieve a result like this in Paddington proves there is still an incredible appetite for ultra-premium, character-rich homes when they are executed flawlessly,” he said.

For much of the past year, the home has been a point of local intrigue. During its transformation, it drew regular attention from passersby along Reading Street, a reflection of both the scale of the site and the prominence of the build.

Set on a 1,634 sqm corner parcel, ‘Governess’ sits elevated above the surrounding streetscape, capturing sweeping city and ridgeline views. The position alone places it among a limited pool of homes capable of achieving outcomes at this level.

What distinguishes the project, however, is not just the site, but how the existing home has been reworked.

Rather than a conventional renovation, GRAYA has undertaken a full-scale reinterpretation of the original 1860s residence, retaining its heritage elements while introducing a contemporary extension that reshapes how the home is used.

The transition between old and new is anchored by a central spiral staircase, which acts as both a functional connection point and a defining architectural feature. It separates the more traditional elements of the home from the contemporary addition, creating a clear but cohesive distinction between the two.

Internally, the material palette has been carefully considered to reflect the surrounding environment. Green marble and walnut-toned cabinetry echo the leafy outlook, while large expanses of glazing bring in natural light and frame the elevated views.

Ceiling heights of 3.1 metres and floor-to-ceiling glass reinforce that sense of openness, allowing the home to operate across both indoor and outdoor zones. Living and dining areas extend to a wraparound deck overlooking landscaped lawns and a resort-style pool, positioning the home as much for entertaining as it is for day-to-day living.

The kitchen has been designed as a central hub, anchored by a 4.5-metre island beneath a skylight and supported by a concealed butler’s pantry. Outdoor entertaining is equally integrated, with an alfresco BBQ area connecting directly to the main living spaces.

Below, additional amenity spaces reflect the growing expectation for lifestyle-driven design at this level of the market. A gym and tasting room, complete with cellar, bar and lounge, sit behind thermally insulated glass, providing dedicated zones for both recreation and entertaining.

Accommodation is spread across five bedrooms, alongside a study and additional office space. The primary suite occupies the uppermost level, functioning as a self-contained retreat with its own lounge, private deck, dressing room and ensuite.

The inclusion of features such as an internal lift, home automation via Electronic Living, and a five-car garage reinforce the level of specification.

The sale highlights the continued evolution of Brisbane’s prestige housing market.

Suburbs like Paddington, long defined by their character housing and proximity to the CBD, are increasingly seeing a new layer of product emerge. Rather than incremental renovations, developers are delivering full-scale transformations that position heritage homes at the very top of the market.

The former Paddington record was set in early 2025 when a newly built home, ‘Mascotte’, on Garfield Drive, sold for $11.8 million.

Australia’s housing debate is often dominated by affordability and supply, but a new collaboration between Brickworks and acclaimed architecture firm Kennedy Nolan argues the conversation should also focus on the quality and longevity of the homes being built.

The project, titled Our Next Neighbourhood, examines how suburban housing could evolve in response to shrinking block sizes, rising energy costs, increasing density and changing family structures.

Rather than proposing luxury dream homes, the initiative focuses on what its creators describe as achievable suburban housing models that are more flexible, sustainable, and better suited to modern Australian life.

Brickworks commissioned Kennedy Nolan to investigate what suburban housing might look like if “design, long-term liveability and enduring materials were placed at the centre of the conversation”.

The result is two housing concepts, known as the Street Terrace and Canopy Terrace, which explore higher-density living while maintaining access to green space, natural light and privacy.

The designs incorporate adaptable floorplans that can evolve as family needs change, along with passive design principles intended to reduce reliance on mechanical heating and cooling.

Brett Ward, General Manager of Marketing at Brickworks, said the company wanted to broaden the discussion around housing beyond simply increasing supply.

“Much of the housing conversation today is understandably focused on supply and affordability, but there is an equally important discussion to be had about the quality and longevity of the homes we build,” he said.

“We wanted to explore how thoughtful design, combined with durable, resilient materials, could create homes that not only function well today, but continue to support Australian families and communities long into the future.”

Kennedy Nolan said the project was partly inspired by concerns that contemporary housing often struggles to adapt to changing household structures and environmental pressures.

The architects said innovation in suburban housing was “essential” to address changing family groupings, energy use, urban heat island effects and growing disconnection from place.

According to the design team, the concepts draw on lessons from some of Australia’s most influential housing projects while seeking to create neighbourhoods with stronger links to landscape, community and local identity.

Rachel Nolan, founder of Kennedy Nolan, said the practice saw an opportunity to reimagine suburban housing as something “more connected to our climate, our landscape, our communities and our Australian identity”.

The project comes as policymakers, developers and planners continue searching for ways to deliver more housing without sacrificing liveability, neighbourhood character or long-term sustainability.

PADDINGTON HOUSE RECORD SET WITH $12M SALE OF LANDMARK ‘GOVERNESS’ HOME

A restored 1860s Brisbane residence transformed by GRAYA has smashed Paddington’s house price record, selling for more than $12 million.

Brickworks has enlisted acclaimed architecture studio Kennedy Nolan to explore how homes could become more adaptable, energy-efficient and connected to community.