A landmark sale in Brisbane’s inner north has captured the attention of the city’s prestige property market.
The property at 32 Sutherland Avenue, Ascot has sold for $23,000,000, placing it among the top residential sales in the suburb. Handled by Ray White Ascot, the sale settled on 1 November 2024, representing a dramatic increase from its $10,000,000 sale price in 2021.
About the Property
This elegant Queenslander from the 1930s has undergone restoration and expansion, combining traditional design with contemporary luxury. It has been extensively renovated by the owner, construction expert Brett Walker of BWC Group.
Set on a 3,035 m² block, the home features:
– 5 bedrooms, 4 bathrooms, a dedicated study
– Formal and informal living zones with original heritage details
– Expansive entertainer’s kitchen, butler’s pantry, and wine storage
– Championship-size floodlit tennis court
– Resort-style swimming pool, cricket pitch, and manicured gardens
The buyer of the record-setting property is Ben Cleary, a Brisbane expat and director of the multi-billion-dollar fund manager, Tribeca Investment Partners.
Mr Cleary, who previously purchased a penthouse in Cutters Landing, New Farm, for $10 million in 2022 with his wife, Jane, is among a growing number of high-net-worth individuals returning to Brisbane and investing in its luxury property market.
Why This Sale Stands Out
– Previously sold for $10M in 2021
– One of the largest privately held lots in Ascot
– Extensive outdoor features uncommon this close to the city
The sale underscores growing demand for high-end properties offering land, privacy, and lifestyle. It’s all within easy reach of the Brisbane CBD.
Previous Ownership & Historical Significance
In 2021, the property was sold by Brian White, Chairman of Ray White Group, who had owned the home since 1975. Over 40 years, he and his wife, Rosemary, raised their three sons in this residence. The home, a signature Federation-style Queenslander, features four bedrooms, a study, music room, large entertainment area, fireplaces, formal lounge and dining areas, a floodlit tennis court, swimming pool, cricket pitch, and 37 metres of street frontage.
Mr White expressed his sentiments about the sale to Mr Walker and his family:
“I can’t be happier that a family has purchased it and I certainly felt a responsibility to our old home that it needed to be lived in.”
Market Dynamics During the 2021 Sale
The 2021 sale occurred amidst historically low interest rates, which Mr White noted:
“Never, ever in my career have we had anything like the interest rates we have at the moment…Real estate is very sensitive to the perception of where interest rates are heading.”
The property attracted significant interest, culminating in a sale to a Brisbane family a week before the scheduled auction. Mr White emphasized the value of auctions in providing buyers with confidence through transparent competition.
Street Profile & Sales Context
Sutherland Avenue has long been considered one of Ascot’s most prestigious streets, home to historic estates, manicured gardens, and architecturally significant properties. Homes here are tightly held and rarely come to market.
This $23 million sale at 32 Sutherland Avenue not only sets a new suburb record, but signals ongoing confidence in Ascot’s position as one of Brisbane’s most exclusive addresses. It’s a property that captures lifestyle, luxury, and long-term investment appeal in equal measure.
Published 23-April-2025
