SURGEON GIVES 160-YEAR-OLD PADDINGTON QUEENSLANDER A $5.8M FACELIFT
A 160-year-old Paddington Queenslander has been spectacularly reimagined and is now poised to test Brisbane’s house price ceiling.
3 min
After a popular Brisbane plastic surgeon scored an NBL star’s period Paddington home in 2022, he performed a major facelift on the 160-year old Queenslander.
Now that the mansion has had its makeover, the luxury five-bedroom property is back on the market with a March 14 auction date.
The quintessential Queenslander at 49 Reading St was to be a fixer-upper project for Brisbane Bullets player, Aron Baynes and his wife, Rachel.
The couple had bought the 1634 sq m property – also known as The Governess – in 2021 for $4.5 million, with plans to undertake the renovation themselves.
Award-winning builders Graya were engaged to restore the estate to its former glory, but the game changed for the Baynes, who sold it in 2022. Canadian-born Dr Justin Perron spent $5.8 million for the landmark residence, which came complete with a DA for Graya to give it their Midas touch.
That sale was negotiated with Josh Brown and Matt Lancashire of Ray White New Farm, who are again trusted with the marketing campaign. Because it is being sold under the hammer in Queensland, state legislation prohibits agents from providing a public price guide.
Currently, the house price record for Paddington is $11.8 million, set early last year for a fully renovated pre-war five-bedroom house on Garfield Dr The Governess is expected to smash through that price barrier.
“Given its size, its heritage and the extraordinary inclusions with a five-car garage, internal lift and impeccable renovation, I do believe it represents really good value. There’s just nothing like it in Brisbane,” Brown says.
The property, which spans four blocks on the corner of Fernberg Rd and Reading St, dates back to the 1860s and is known locally as the older “sibling” of Government House, given that it was designed by the same architect, Benjamin Backhouse and sits just across the road from the grander heritage estate.
Now with its new look, The Governess is considered one of Paddington’s most significantly transformed homes; one that oozes with the charm of yesteryear, but the sophistication of today.
Blending old and new, the reimagined residence balances past and present over three spacious levels, separated by a statement spiral staircase.
Several period elements have been retained, including the iconic balustrades and wide wraparound verandas, while there is also a long list of modern conveniences, from a state-of-the-art kitchen to full home automation.
Inspired by nature, the interiors reflect the neighbourhood’s surrounding colour palette, with rich green marble accents and warm walnut-toned cabinetry. High 3.1m ceilings and floor-to-ceiling glass have also been used to frame the city and treetop views.
The gatehouse and veranda arches mirror the curves of the entrance hall, which, in turn, connects the original footprint to the contemporary addition and open plan family area.
In the gourmet kitchen, there are Miele appliances, a vast 4.5m island workbench beneath a skylight, and a large, hidden butler’s pantry. This space flows out to the alfresco dining space, barbecue terrace, pool and fenced lawn.
The main living level also houses three bedrooms, a study, a powder room and a family-friendly laundry.
Up via a private internal lift, the accommodation level is home to a palatial primary suite with a sitting area, dressing room and a luxury ensuite with a fireplace. Besides the main bedroom, a smaller bedroom with an ensuite could make an ideal nursery.
On the lower ground floor, there is even more space for entertaining on a grand scale, including a wine cellar, wet bar, tasting room, and gym.
The Governess has a long story to tell, with a range of added extras, including home automation via Electronic Living, a five-car garage, mudroom, communications room, panic room, air conditioning, and security.
It is about 550m to Paddington precinct, 900m to Rosalie Village shopping and 3.5km to Brisbane’s CBD.
The Governess at 49 Reading St, Paddington will go to auction on March 14 at The Calile Hotel from 9 am with Josh Brown and Matt Lancashire of Ray White New Farm.
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Office rents in Sydney, Melbourne and Brisbane are climbing at their fastest pace since the pandemic as tenants compete for premium CBD space amid tightening supply.
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Australia’s major CBD office markets are recording some of their strongest rental growth since the pandemic, with businesses increasingly prioritising premium office space despite elevated geopolitical and economic uncertainty.
Knight Frank’s Australian Office Indicators Q1 2026 report found net effective rents in Sydney and Melbourne CBDs rose at their fastest annual pace since COVID-19, increasing 10.2 per cent and 6.8 per cent respectively over the 12 months to March.
Brisbane posted the strongest growth nationally, with net effective rents climbing 11.7 per cent over the same period.
The report points to a widening divide between prime CBD office towers and secondary office stock, as occupiers increasingly focus on quality, location and workplace amenity when making leasing decisions.
Knight Frank Senior Economist, Research & Consulting Alistair Read said demand remained heavily concentrated in premium assets within core CBD precincts, helping drive stronger rental growth in top-tier buildings.
“Occupier demand continues to be heavily concentrated in the most desirable CBD precincts and the highest-quality buildings, accelerating a sharp divergence between core and non-core markets,” Mr Read said.
According to the report, Sydney’s Core precinct and Melbourne’s Eastern Core significantly outperformed broader CBD markets over the past year.
“In Sydney’s Core precinct and Melbourne’s Eastern Core, net effective rents surged 14.3% and 16.1% over the past year, significantly outperforming the rest-of-CBD precincts,” Mr Read said.
The rental gap between prime and non-prime office locations has also continued to widen sharply.
“As a result, core CBD rents are now 54% higher than non-core locations in Sydney and 93% higher in Melbourne, highlighting the growing premium placed on amenity, accessibility and workplace quality,” he said.
Knight Frank said the strong rental growth across the major CBDs was being underpinned by a limited supply pipeline, with few new office developments expected to be delivered in the near term.
Mr Read said subdued construction activity was likely to support ongoing rental growth and tighter vacancy rates over the medium term, particularly for premium office towers.
“The combination of sustained demand and declining levels of new development will aid ongoing prime rental growth and lower vacancy rates over the medium term, particularly for best-in-class assets,” he said.
The report noted that current economic conditions were making new office developments increasingly difficult to justify financially.
“Economic rents remain well above expected market rents, making the construction of new office towers largely unviable, and concentrating tenant demand into existing buildings,” Mr Read said.
While suburban office markets generally remained subdued compared with CBDs, Melbourne’s Southbank precinct was identified as a relative outperformer, recording annual net effective rental growth of 2.7 per cent.
The report comes as broader Asia-Pacific office markets continue to stabilise following several years of disruption linked to hybrid work trends, inflation and rising interest rates.
Knight Frank’s separate Asia-Pacific Q1 2026 Office Highlights report found Sydney and Brisbane were among the strongest-performing office rental markets in the region, behind only Bengaluru and Tokyo for annual prime net face rental growth.
The Asia-Pacific report also found 18 of the 24 cities monitored across the region recorded stable or increasing rents in the first quarter of 2026, even as geopolitical uncertainty intensified following escalating conflict in the Middle East.
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