A house at the centre of a stoush between Shark Tank star Steve Baxter and his neighbours has sold for a record price.
A house at the centre of a neighbourly stoush between a Shark Tank star and a Brisbane homeowner has sold for a record price some five years after it was finally built.
Multimillionaire entrepreneur Steve Baxter took his Paddington neighbours, Anthony and Kylie Preston to court over plans to build retaining walls next to his property to support a swimming pool and outdoor entertaining area.
In April 2021, an injunction was filed on behalf of of Mr Baxter citing concerns for the safety of his $8m home involving the build at 9 Reading Street and that works were being undertaken unlawfully.
This house at 9 Reading St, Paddington, has sold for more than $12m.
The pool and outdoor area at the centre of a dispute between the owners of this house and their multi-millionaire neighbour.
The Prestons and builder, Graya, were subsequently ordered by the Planning and Environment Court to temporarily suspend work on the home.
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By July, the Prestons had obtained both an exemption certificate and a development approval for operational work from the council, but Mr Baxter went on to raise new allegations.
The court eventually concluded that the maintenance of the application from July onwards was “…productive of serious and unjustified trouble and harassment” and had the effect of prolonging the trial.
Shark Tank judge Steve Baxter complained about this house being built nextdoor.
The city view from the house at 9 Reading St, Paddington.
Mr Baxter, founder of digital signage company Mandoe Media, was ordered to pay the Prestons and Graya costs from July 15, 2021, up to and including December 9, 2021.
Nearly five years on, the five-bedroom home at 9 Reading St has sold for $12.075m by Matt Lancashire and Josh Brown of Ray White.
The Prestons purchased the original property on a steep, 810 sqm block for $3.15m in 2018, and over the following years, demolished the existing home and began one of the suburb’s most ambitious builds.
Steve Baxter, former Shark Tank judge and tech entrepreneur. Photo: Ric Frearson.
The en suite in the designer home at 9 Reading St, Paddington, which was built by Graya.
Designed by Joe Adsett Architects, the property known as ‘Skyline’ features a flat, fully integrated floor plan with a 20-metre frontage, offering striking views of Brisbane’s CBD.
Other features include two living areas, an upstairs balcony and a pilates studio, with an ensuite attached to each bedroom, a heated infinity pool and spa, an outdoor kitchen, a gazebo, and a sunken fire pit.
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The previous sale price record for a home in Paddington was $11.8m for a 653 sqm property at 45 Garfield Drive last year.
Mr Baxter was one of the ‘sharks’ on the Australian television series, Shark Tank. He is also the founder and CEO of specialist defence venture capital firm, Beaten Zone Venture Partners.
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