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.
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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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Strong population growth, major infrastructure spending and comparatively affordable property are expected to cement Melbourne’s position as Australia’s most attractive long-term real estate market.
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Melbourne is poised to become Australia’s largest city within the next decade, with strong population growth, infrastructure investment and relative affordability driving long-term property demand.
A new research report from Knight Frank argues the Victorian capital remains one of the country’s most compelling markets for investors, businesses and residents.
The report highlights the city’s rapidly expanding population, diverse economy and major infrastructure pipeline as key factors underpinning future property growth.
Knight Frank Managing Director Victoria, Dominic Long, said Melbourne’s fundamentals continue to position the city strongly for long-term investment.
“Melbourne continues to stand out as one of Australia’s most compelling real estate markets,” he said.
“It is Australia’s strongest long-term growth city with the fastest growing population, the most diversified economy, world-class liveability and the most affordable major market for office, industrial and residential property.”
Population growth driving demand
Melbourne’s population has grown at an average rate of 1.8 per cent per year since 2000, faster than any advanced global economy, according to the research.
In the year to June 2025 alone, the city added about 123,500 residents, the largest annual increase of any Australian capital.
Population growth is expected to remain one of the key drivers of demand across residential and commercial property markets, including housing, offices and logistics space.
The report forecasts Melbourne’s population will overtake Sydney’s by the 2030s, reinforcing its position as the country’s fastest-growing major city.
Office market offering value
Melbourne’s CBD office market is also attracting renewed attention from investors.
Prime office rents remain significantly lower than in competing cities, with CBD office space about 46 per cent cheaper than Sydney and around 13 per cent cheaper than Brisbane.
That relative affordability is expected to drive long-term demand from occupiers and investors seeking value in Australia’s largest office markets.
The city’s office sector is also showing signs of recovery, with effective rents rising in 2025 and demand increasing for high-quality buildings in premium locations.
Industrial market benefiting from scale
Melbourne’s industrial sector continues to expand, supported by strong population growth, e-commerce demand and the scale of the city’s logistics network.
The city already hosts the country’s largest industrial market, with about 34 million square metres of warehousing stock and significant land available for future development.
Industrial rents remain competitive compared with other capitals, while Melbourne’s port handles the largest container volumes in Australia, further supporting demand for logistics space.
Infrastructure pipeline supporting growth
More than $200 billion in transport infrastructure investment between 2014 and 2036 is also expected to reshape the city and support future property values.
Major projects include the Metro Tunnel, the West Gate Tunnel, the North-East Link and the Suburban Rail Loop, which together will improve connectivity across Melbourne and its growth corridors.
Knight Frank’s Head of Research & Consulting, Victoria, Dr Tony McGough, said these investments would play a key role in supporting the city’s economic expansion.
“Melbourne is Australia’s most economically diverse city and has delivered stable growth for more than two decades,” he said.
“With strong population growth, a highly educated workforce and unprecedented infrastructure investment, Melbourne is well placed to remain one of Australia’s most attractive long-term property markets.”
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