[5][6][7] Gannon unsuccessfully contested the electoral district of Bulimba in the 1896 election, unable to defeat the sitting member James Dickson.

Gannon sold off a considerable acreage of land, but retained ownership of that portion on which a residence was to be constructed.

It is likely that the house was constructed c. 1888 as, on 30 April of that year, a Bill of Mortgage was registered from Michael Brennan Gannon to the Royal Bank of Queensland.

[8] Gannon died in Brisbane on 9 April 1898 aged 50 years after a protracted illness that had forced him to retire.

[2][9][10][11][12] His obituaries described him as "universally respected for his outspokenness and the honourable motives which actuated his conduct" and that he would be remembered as "one of the most honest figures in mercantile circles; ... a man who in turn was most happy when sharing his bounty with others less prosperous.

[13] His holiday home, Michael Gannon residence, at Manly has been listed on the Queensland Heritage Register.