Trophy home: Heir to Peabody fortune lists Brisbane mansion
FAILED restaurateur TJ Peabody — heir to one of Australia’s biggest fortunes — has put his lavish Brisbane riverfront estate on the market to repay his father.
Peabody is the son of richlister Terry Peabody, whose wealth is estimated to be $584 million through his stakes in Craggy Range wines and waste management firm Transpacific Industries.
Terry Peabody famously stepped in to help his son out after the closure of his dining empire.
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“This is not a fire sale,” TJ Peabody said.
“I don’t have to sell and there’s no pressure from my father but I want to do it.”
The property at 89 Longman Tce, Chelmer, is one of the city’s most enviable trophy homes, boasting seven bedrooms and seven bathrooms.
The classic, American style house sits on a huge, 2400 sqm parcel of riverfront land, with two separate guesthouses.
Features also include a championship-sized tennis court, heated swimming pool and a private pontoon with power and water.
There is also a billiard room with a bar and climate-controlled 1200 bottle wine cellar and an outdoor kitchen with built-in barbecue.
The property won Master Builders House of the Year in 2009.
TJ Peabody closed two of his Brisbane restaurants — Nativo Kitchen & Bar and Burnt Ends — in 2018.
“All of my previous venues are now up and running by other people after I shut them all down and sold them to new restaurateurs,” TJ Peabody said.
“The truth is there’s no pressure from my father or mother. We are not doing this because we have to, we are doing this because we want to, and the time is right for Kim and I to downsize.
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“It’s well known that my family helped me with my debts and in fact, they are prepared to help me forever, but at the end of the day I want to pay dad back.
“I want to clean the slate and continue to enjoy life. I don’t owe any bank any money but I do want to pay back my father who helped me.”
The estate is being marketed by Matt Lancashire and Meaghan Bakker of Ray White — New Farm and is for sale via an expressions of interest campaign closing September 20.
Mr Lancashire said the house was beautifully crafted and even had a slate roof built by the same master craftsman from Ireland who did Windsor Palace after its fire.
“You would be hard pressed to find a better house in Queensland that has been built to this level,” Mr Lancashire said.
“The detail is quite amazing.”
Records show the property last sold for $2.85 million in 2003.