Multi-millionaire entrepreneur and Universal Store co-founder Greg Josephson had put his sprawling Brisbane mansion on the market just weeks before he was allegedly stabbed to death during a house party at the three-storey home.
A 15-year-old boy has been charged with one count of murder after Mr Josephson was found critically injured at the gathering attended by 30 teenagers on Thursday.
Officers arrived at the six-bedroom 1930s Art Deco mansion in Clayfield, in the city’s inner north, just after 8.15pm and found the CEO unresponsive in an upstairs room.
His body is believed to have lay there for hours while the party unfolded downstairs.
The Oriel Road property, which boasts a swimming pool and two car spaces, had been on the market for just 43 days when tragedy struck.
Mr Josephson and his wife Tamra bought the home for $1.91million in 2016, which nine years ago was above today’s median house price of $1.88million for Clayfield.
The couple embarked on a major renovation, with Mr Josephson explaining at the time how they had planned to ‘create a huge garage with a tennis court above it’.
‘We were looking for a big family home and this was in very original condition,’ he told the Courier Mail earlier this month.
Multi-millionaire entrepreneur Greg Josephson (pictured with his wife Tamra) was the successful co-founder of clothing giant Universal Store and the proud owner of several hospitality venues before he was allegedly stabbed to death on Thursday night
Mr Josephson and his wife Tamra buy their six-bedroom mansion for $1.91million in 2016, which nine years ago was above today’s median house price of $1.88million for Clayfield
From one store in Carindale, Universal Store has grown to 80 outlets in every state and territory of Australia, as a leader in youth and streetwear fashion with an annual revenue of more than $288million (pictured, a Universal store in Perth)
The home is listed for sale under Tamra’s name along with a neighbouring home on Stafford Street.
For almost two decades, Mr Josephson was the director of the Brisbane-based company he had established with his brother Michael in November 1999.
This followed a career as a leasing manager with shopping mall and commercial office space owners Westfield, Lendlease and Jones Lang LaSalle.
From one store in Carindale, Universal Store has grown to 80 outlets in every state and territory of Australia, as a leader in youth and streetwear fashion with an annual revenue of more than $288million
The company is now valued at $573.104 million on the Australian share market.
The Josephson brothers sold the business for $100million in September 2018 to private equity investors Five V Capital, Catalyst Direct Capital Management and BBRC Worldwide, which had previously invested in Bras N Things.
Universal Store Holdings was listed on the Australian Securities Exchange in November 2020 and the brand has continued to grow since the Josephson brothers relinquished control almost seven years ago.
It delivered a net profit after tax of $34.3million during the 2023-24 financial year, marking a healthy 45.7 per cent increase.
For almost two decades, Mr Josephson (pictured) was the director of the Brisbane-based company he had established with his brother Michael in November 1999
Mr Josephson’s success saw him and his wife Tamra (pictured) buy their six-bedroom mansion in Clayfield for $1.91million in 2016
Officers are seen arriving at Mr Josephson’s home in Clayfield, Brisbane is pictured on Friday
Greg became the chief executive of Josephson Holdings in November 2018 and used his post-retail career to run a bed-and-breakfast and café on the Sunshine Coast.
He expanded his hospitality interests in 2021, buying the Noosa Reef Hotel in the ritziest part of the Sunshine Coast for $13.9million.
Greg Josephson’s love of retail began after he graduated from Griffith University in 1987 with a Bachelor of Commerce majoring in marketing.
At age 20, he became a leasing executive with Jones Lang LaSalle, before moving to Lendlease in 1991 and Westfield in 1995.
He expanded his hospitality interests in 2021, buying the Noosa Reef Hotel in the ritziest part of the Sunshine Coast for $13.9million.
At age 20, he became a leasing executive with Jones Lang LaSalle, before moving to Lendlease in 1991 and Westfield in 1995.
Queensland Police Acting Assistant Commissioner Rhys Wildman said an altercation took place between the 15-year-old and the father-of-three, who are believed to be known to each other.
It is alleged a household item was used.
‘There was some sort of altercation that’s resulted in this 58-year-old male tragically, losing his life,’ he said.
‘It’s not a case of carrying knives, it’s unfortunately allotted in a home.
‘Police are not looking for any other party, so it was an individual, the 15-year-old is the sole offender that we believe was involved in this incident.
‘The guests at the party were not involved in the incident as it unfolded.’
Officers found the 15-year-old boy near the property, on Barlow Street, and took him into custody. He was refused police bail and has been taken to hospital.
Queensland Inspector Jane Healy said that police attending the house came across a ‘confusing and confronting scene’.
‘It’s still extremely early and the situation was quite chaotic, confusing and confronting scene when police arrived, so we are still establishing a timeline of what has happened,’ she said.
The Child Protection Investigation Unit is investigating the incident.
Universal Store is one of Australia’s most popular fashion retailers, with more than 80 physical stores nationwide, offering the latest trends in youth and streetwear fashion.
‘We wanted to share the sad news that Greg Josephson, who founded our company and played a significant role until 2018, has recently passed away,’ it said in a statement on Friday.
‘Our sincere thoughts and condolences are with his family at this very sad time.’
