Fone Zone's David McMahon fails to sell historic Hamilton Hill home

Cremorne, the historic Hamilton Hill home of Fone Zone co-founder David McMahon and wife Tracey failed to sell at its re-arranged auction last week despite the best effort of the agents.

The auction had been brought forward to midday from its scheduled 6.30pm by Place Bulimba agent Sarah Hackett due to the looming aftermath effects of cyclone Debbie hitting the east coast.

Built in the early 1900's by Brisbane publican James O'Connor, the McMahon's were only the third owners of the award winning property with sweeping views of the Brisbane River.

According to the Queensland Heritage register, Cremorne is the only example of the domestic work of renowned Queensland architects Eaton & Bates.

They paid $6,625,000 for the five bedroom home in late 2015.

Four art pieces that have been original to the house were painted in 1899.

The home receieved a heritage-approved pavilion extension by Donovan Hill Architects - now BVN Donovan Hill, in consultation with heritage specialist architect Robert Riddel.

David retired from Fone Zone in 2013, having co-founded the company, now Vita Group in 1995. It is now valued at over $750 million.

David sold the former Ascot home he shared with ex wife Maxine Horne for $8,615,000 to Domino's Pizza head Don Meij last year.

This article first appeared in The Weekend Australian Mansion Australia section.