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The school and grounds cost £7000 to build. Prior to its opening, classes were conducted underneath the parish’s original small wooden church and in the church sacristy.
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Sts Peter and Paul’s School opened on 7 February 1916 with an enrolment of 200 students.It was run by the Sisters of the Good Samaritan, who moved from Sydney to open the school for Catholic families living around Bulimba.
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The southern wing of “A” block was added in 1926.
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The B Block building added five new classrooms and a veranda. Before it opened, classes were held in the parish hall, the original church.
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A third classroom block, “C” block, was added in 1970.
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Before the Administration Building opened, the school office was located in C Block.
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In 1990 pre-school education was offered by the school. A new pre-school building, for up to 50 pre-schoolers, was opened in 1998. The pre-schoolers had their own playground where Prep Blue 's classroom is today.
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The Sisters of the Good Samaritan were present at Sts Peter and Paul’s until 1996. The school’s first lay principal, Mr Power, began in 1997.
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In 2001 the Undercroft building which includes six classrooms, tuckshop and undercroft was completed.
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In 2002 the original 1916 school building was replaced with a modern library, staffroom and classrooms. This building is called the Fr Lee Building to honour the memory and service of Fr Bryan Lee, Parish Priest from 1968 - 2002.
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Sister Ann-Maree is a member of the Sisters of the Good Samaritan religious order. She is one of only two religious principals in Brisbane Catholic Education. Sister Ann-Maree continues the tradition of the Good Samaritan Sisters at Sts Peter and Paul's.
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The Good Samaritan Hall occupies the site of the former tennis courts.
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The school celebrated its 100th birthday in 2016. Many exciting events were planned including the Centenary Fete.
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The new building will include classrooms, a staff room and a rooftop playground. It is due to be completed at Easter 2017.