A striking six-storey yellow house on Margate Parade has unexpectedly become a hot property, topping Queensland’s most-viewed list.
Overlooking the scenic Redcliffe Peninsula coastline, the building at 97 Margate Parade has drawn attention for its bold design and colourful history. Locals have labelled it everything from an eyesore to a unique landmark.
Built in 2005, the house was sold to Ron Jelich, who had plans to establish a Storm Financial branch on the site. However, council disapproval and the subsequent collapse of Storm Financial left the property vacant. Jennifer Anderson and Phillip Moschella later purchased it in 2019, but it has remained unoccupied.
Under the guidance of Reid and Co agent Cameron Reid, the property is seeking a new owner with a vision. Despite its current state, the mansion boasts many attractive features, including five bedrooms, five bathrooms, three living areas, and a rooftop terrace with sweeping views of Moreton Bay and Bribie Islands. A lift connects all floors, from the five-car basement garage to the rooftop entertaining area.
Mr Reid highlighted the property’s potential, suggesting its suitability for a large family home, dual occupancy, or even an Airbnb. He noted significant interest from international buyers, particularly Asia, the Middle East, and North America. The unique zoning allows for a blend of residential and commercial use, a rarity under current building codes.
With Margate’s median house price rising, currently at $841,000, this unusual property presents a unique opportunity for the right buyer.
Will it be transformed into a luxurious family haven, a thriving business hub, or a combination? Only time will tell.
Published Date 29-Jan-2025
