41 Richmond Street, Chelmer, Qld 4068 The property borders the Brisbane River“This outstanding property offers numerous property options, including; 1. Restore the five bedroom, three level home to its former glory; 2. Remove existing house, rebuild on these premier allotments; 3. Retain the existing home and sell or build on the second riverfront allotment; 4. Subdivide the land into eight allotments (subject to council’s development code, local plans and overlays)”.The existing house has five bedrooms, seven bathrooms, a self-contained zone ideal for guests or a nanny, a lawn tennis court, cellar, and large undercover pool.According to CoreLogic records, the land value at the end of June was $3m. The pool is under cover. The kitchen is fully kitted out with premium appliances. More from newsParks and wildlife the new lust-haves post coronavirus23 hours agoNoosa’s best beachfront penthouse is about to hit the market23 hours agoThe large grounds would be perfect for a luxury subdivision. 68 Molonga Terrace, Graceville Qld 4075DON’T let appearances deceive you, this was the most expensive home sold in Brisbane this past week, fetching a whopping price at auction.The 6,532sq m sprawling waterfront estate landed $5.65m when it sold via public auction over the weekend, according to CoreLogic’s Property Market Indicator.Agents Jack and Patrick Dixon of Dixon Family Estate Agents had the 1959 three level double allotment property listed “to finalise the estate of Burt and Melda Peterson”.They described it as a “once in a lifetime opportunity” given its position, multiple development options and low density residential classification. There’s even a soundproof media room.A home in the neighbouring blue chip suburb of Chelmer was the second most expensive property sold during the week, with 41 Richmond Street fetching $2.95m, according to market records.Ann-Karyn Fraser of Place New Farm listed the property as a grand Chelmer residence on 1,300sq m “offering an unrivalled lifestyle in one of Brisbane’s most prestigious enclaves”.The Queenslander home had a “strong traditional colonial influence”, she said, with polished timber floorboards, Louis Poulsen pendant lighting and VJ walls.Among its special feature was a kid’s retreat and sun room, a soundproof media room, six water tanks, Villeroy and Boch toilets, cable internet and three phase power.