A $1 million Brownston Factory in the Gold Coast has become the largest property development in Australia’s capital city and could help turn a home built to be a luxury residence into a house worth more than $8 million.
The house, built at the former Tuggeranong Estate, was the first in the Brisbane suburb to receive a private buyer’s guarantee for $1million.
The owner, Michael Patey, is also the founder of the $9 million Sydney Brownstone Bakery and Bar.
The bakery opened in 2011 and has since grown to become one of the most popular eateries in the city.
“We wanted to go out and build something special and have some really great people working on it,” Mr Pateys said.
“It’s the perfect opportunity for us.”
Mr Pates dream is to have a house of his own and build a bigger one.
“That’s something we’re really passionate about,” he said.