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All this buyer wanted for Christmas was an art deco apartment block

first_imgOsmaston, at 598 Lower Bowen Tce, New Farm, has sold. Picture: realestate.com.au.More from newsParks and wildlife the new lust-haves post coronavirus22 hours agoNoosa’s best beachfront penthouse is about to hit the market22 hours agoMr Koukides said the building attracted 120 inquiries and six offers before selling to a “well-known local developer”.“He walks past it on a regular basis and always wanted an art deco building,” Mr Koukides said.“He thought it was meant to be because he was the second buyer.“He actually missed out, but the first guy cooled off and so he got the phone call.” HOW MUCH? £3000 HOME SELLS FOR $4M PLUS This art deco building at 32 Moray St, New Farm, recently sold. One of the kitchens in Osmaston at 598 Lower Bowen Tce, New Farm.Mr Koukides said the sale was a welcome, early Christmas present for the property’s vendor, who was based in Athens.The property is in a prime location, walking distance to Merthyr Village shops and New Farm Park.Last month, another art deco apartment building in New Farm sold for $2.95 million to a local architect who plans to transform it into a family home.It was the first time the heritage-listed property at 32 Moray Street had changed hands in 81 years. Osmaston at 598 Lower Bowen Tce, New Farm, has sold. Picture: realestate.com.au.On a 470 sqm parcel, it includes four two-bedroom apartments on the upper levels and two one-bedroom apartments on the lower level.The bathrooms and kitchens were renovated in the past 15 years. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE Selling agent George Koukides of First National Real Estate Metro marketed the property as being “highly sought after but rarely available” and offering strata title potential.center_img Osmaston at 598 Lower Bowen Tce, New Farm, has sold. Picture: realestate.com.au.AN ENTIRE block of art deco units in one of Brisbane’s best inner-city locations has sold for the first time in six decades for more than $2.4 million.Kept in the same family for generations, the property was built in the early 1930s and used to house some of the US navy during World War Two.The building, Osmaston, at 598 Lower Bowen Terrace, New Farm, generates a rental return of about $80,000 a year. One of the bathrooms in Osmaston, at 598 Lower Bowen Tce, New Farm.Mr Koukides said the buyer had realised what a good opportunity the property was, given there were only 17 art deco apartment blocks in New Farm.“He’s going to think about what to do with it before improving it, but it’s a long-term family hold.” GOLDEN OPPORTUNITY IN COOLANGATTA last_img read more