A stunning architectural achievement on Reading Street is generating significant interest in Paddington’s property market, with industry observers predicting it could establish a new price benchmark for the historic suburb.
The custom-built residence at number 9, known as ‘Skyline’, represents the culmination of an ambitious project that began when Kylie Anne and Anthony Steven Preston acquired the site for $3 million in 2019. The couple commissioned Graya and Joe Adsett Architects to create their dream family home on the prime 810-square-metre block.
The building process proved more complex than initially anticipated, extending over several years due to various planning considerations and regulatory requirements. Real estate agent Josh Brown from Ray White New Farm, who is marketing the property alongside colleague Matt Lancashire, explained that the extended timeline reflected the owners’ commitment to achieving their architectural vision.
The completed home showcases contemporary luxury living across five bedrooms, each featuring its own ensuite bathroom. Additional amenities include dual living spaces, a dedicated pilates studio, and an upper-level balcony that capitalises on the property’s elevated position and 20-metre street frontage.
External features complement the sophisticated interior design, with a heated infinity pool and spa anchoring the outdoor entertainment areas. The landscaped grounds also incorporate an outdoor kitchen, gazebo, and sunken fire pit, creating multiple zones for family gatherings and entertaining.
Brown emphasised the property’s unique positioning within Paddington’s topography, noting that the unobstructed city views are exceptionally rare for the suburb. The flat, integrated floor plan maximises the site’s potential whilst maintaining the character expected in this sought-after inner-city locale.
The owners lived in their custom home for three years before deciding to relocate to Victoria, prompting the current sale. Their departure represents an opportunity for another family to acquire what may become Paddington’s most expensive residential transaction to date.
Market analysts are closely watching the expressions of interest process, particularly given the suburb’s previous record sale of $11.8 million achieved by a property on Garfield Drive. That transaction involved a smaller 653-square-metre site, suggesting the Reading Street property could command a premium price point.
Brown indicated strong initial market interest, particularly from families seeking luxury accommodation in Paddington’s established school catchments and transport links. The target demographic appears to include households with multiple children who value both space and proximity to Brisbane’s CBD.
The sale process continues through expressions of interest, with industry watchers keen to see whether this architecturally distinctive home will indeed reset Paddington’s residential price expectations.
Published 3-September-2025
