Construction boss flips $46m worth of Brisbane property
Construction boss Brett Walker – who bought the historic Ray White mansion for $10m last year – has flipped $46m worth of Brisbane property to a Sydney corporate trustee.
Land records reveal he sealed multiple deals between August and September, the last of which changed possession in December – all involving industrial land and warehouses – with ownership shifting to Evolution MIT Services, which is part of a Sydney-based corporate trustee group.
Mr Walker, who drew international attention after creating a Batman-like tunnel to an Ascot dream home he built at 128 Crosby Rd before selling to James and Kathryn Campbell for $8.8m five years ago, bought the 32 Sutherland Avenue mansion of Ray White Group chairman Brian White for $10m in July – one of Brisbane’s most expensive house deals last year.
He then went on a commercial selling spree, with his biggest commercial property deal – worth $25m – brokered in August with possession set at the first week of December for a sprawling 4.414ha property in Brisbane’s northside.
Mr Walker sold 469, 463 and 485 Zillmere Road in a multi-sale under his BWC Properties umbrella to Evolution MIT Services, a firm that’s part of a Sydney-based corporate trustee group led by Rupert Smoker.
According to government land reports, 485 Zillmere Road had the highest value of $5.6m with warehouse and bulk store use, spanning 3.1ha. The second site, 469, which covers 1.16ha, had a land value of $2.69m. The third, 463, a 1540sq m block used for residential purposes, was zoned for special uses and recorded as having land value of $370,000.
Evolution MIT Services now also owns just under 3ha at 175 Dutton Road, Pinkenba, that Mr Walker’s firm sold for $10m – Mr Walker paid $2.95m for the property 13 years prior – while a 2ha site at 973 Fairfield Road, Yeerongpilly, was sold for $11m (about $2m more than Mr Walker’s firm paid for it in 2008). All sites were zoned for general or future industry.
Evolution MIT Services has been on a buying spree in Brisbane, also picking up five hectares at 165-179 South Pine Road, Brendale, for $32.12m last year.