Universal Store Founder Michael Josephson Sells Brisbane Mansion for $13 Million Profit

Universal Store Founder Michael Josephson Sells Brisbane Mansion for  Million Profit

A sprawling Brisbane mansion owned by Universal store founder Michael Josephson has gone under the hammer for a staggering $13 million.

The sale has left the entrepreneur and his wife Melissa with a whopping profit, having purchased the five bedroom, five bathroom home in Hamilton for $4.3 million in 2020.

Located 6 km from the CBD and only streets away from the Brisbane River the lavish vintage spread offers a combination of Old World charm and modern luxury.  

Since snapping up the two storey property five years ago, the Josephsons splashed out on renovations including refitting the outdated kitchen.

Display photos available online from the 2020 sale show the original as a boxy cooking area with an 80s style.

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Universal Store Founder Michael Josephson Sells Brisbane Mansion for  Million Profit

A sprawling Brisbane mansion owned by Modern Furniture store founder Michael and Melissa Josephson has gone under the hammer for a staggering $13 million (pictured)

The sale has left the couple with a whopping profit, having purchased the five bedroom, five bathroom home in Hamilton for $4.3 million in 2020. Pictured: One of two living rooms

The sale has left the couple with a whopping profit, having purchased the five bedroom, five bathroom home in Hamilton for $4.3 million in 2020. Pictured: One of two living rooms 

Michael and Melissa Josephson (pictured) founded the Modern Furniture Store in 2010

Michael and Melissa Josephson (pictured) founded the Modern Furniture Store in 2010

The updated kitchen now features marble fixtures, including a stone-topped breakfast bar and a large oven, as well as an adjoining dining area. 

Highlights include vaulted ceilings with exposed timber beams and retro light fittings, including two chandeliers. 

There’s also a large pool and entertainment deck and two private living rooms on the ground floor.

Other features include a formal dining room, a ‘sunroom’ and a master bedroom that occupies an entire wing of the upper floor and boasts two ‘dressing rooms’, two en-suites and a ‘retreat’.

The Courier Mail reported on Wednesday that before the Josephson’s bought the property in 2020 the home had been in the same family for 80 years.

And the couple have maintained much of the classic style including decorative plaster work and timber window and door fittings.

Meanwhile, the publication said that the Josephsons have moved onto a new equally lavish two storey home nearby.

Property records reveal their new purchase went through in late April for $4.5 million on the ‘Tuscan’ style home which overlooks the Brisbane River.

Since snapping up the two storey property five years ago, the Josephsons splashed out on renovations. Pictured: One of the gorgeous bathrooms

Since snapping up the two storey property five years ago, the Josephsons splashed out on renovations. Pictured: One of the gorgeous bathrooms 

On Wednesday the Courier Mail reported that the Josephsons snapped up an equally lavish two-storey home nearby. Property records reveal their fresh purchase went through in late April for $4.5 million for the 'Tuscan' style home which overlooks the Brisbane River (pictured)

On Wednesday the Courier Mail reported that the Josephsons snapped up an equally lavish two-storey home nearby. Property records reveal their fresh purchase went through in late April for $4.5 million for the ‘Tuscan’ style home which overlooks the Brisbane River (pictured)

Built on high ground, the prestige Hamilton Hill address features five bedrooms and five bathrooms.

Highlights include a large ultra-modern home cinema, a spa bath and double showers.

There’s also an infinity pool and water feature. 

Michael Josephson made headlines in 2020 when the Universal Store brand he founded with his brother, Greg was sold off for $100 million.

Now listed on ASX it is currently worth $569 million.

Michael and Melissa founded the Modern Furniture Store in 2010. 

 

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