Four-Decade-Old Land Acquisition Set to Deliver Huge Return for Hendra Family

A savvy land acquisition made more than 40 years ago is poised to deliver a substantial financial outcome for a Hendra family, though the person who made the original deal will not share in the proceeds.



Photo Credit: Ray White Ascot

The property at 63 Sefton Road in Hendra has been listed with a price guide of $3.99 million, according to information provided by Ross Drewe, whose family has owned the home since 1985.

Photo Credit: Ray White Ascot

The site’s value stems largely from its unusual size. The original owner expanded what was a standard 32-perch block to more than 44 perches by purchasing a strip of land from a neighbouring property. This strategic move created a 1,122-square-metre parcel – roughly equivalent to three modern residential blocks combined.

Photo Credit: Ray White Ascot

The single-storey home, constructed by Griffin and Knowlman in the 1970s, features two independent units built on a slab. Mr Drewe said his father made modifications to the residence after the family purchased it, including opening up the breakfast room with a servery hatch, skylight and glass door leading to the back lawn.

According to Mr Drewe, the lounge area features two large double glass doors overlooking the front lawn. He described it as a comfortable space where his mother spent time in her later years when mobility became more difficult.

Photo Credit: Ray White Ascot

The property’s positioning on the larger-than-average block provides green space with lawn and shrubs surrounding all four sides of the house, Mr Drewe noted.

Mr Drewe and his two siblings are proceeding with the sale following their mother’s death in 2024 and their father’s passing approximately four years earlier.



Ray White Ascot principal Damon Warat is handling the sale.

Published 25-January-2026

Ascot Leads Queensland Suburbs with the Worst Mortgage Debt

Ascot has landed at the top of Queensland’s worst-mortgaged suburbs, with residents shouldering the heaviest mortgage debt in the state.


Read: Luxury Shoptop Apartments Set to Transform Ascot Landscape


According to Digital Finance Analytics, the blue-chip suburb has emerged as the state’s mortgage heavyweight, with residents carrying an average home loan of $1.38 million. This figure comes as little surprise, given the suburb’s median property price of $2.725 million, which has surged 17.7 percent in the past year alone.

The analysis shows that even by national standards, Ascot’s mortgage debt stands out.

Photo credit: Google Street View

While New South Wales homeowners carry an average mortgage of $523,905 and Victorians shoulder $342,081, Ascot’s figures are nearly triple these amounts, highlighting its position as one of Australia’s most prestigious suburbs.

More Than Just Numbers

mortgage debt
Photo credit: Google Street View

While the price of entry to this prestigious northside enclave might make some eyes water, its magnificent heritage homes and grand tree-lined boulevards continue to draw Brisbane’s most discerning buyers. “It is ‘old Brisbane’,” explained one long-term resident. “I say that because it’s ‘old money’ that owns the homes in this area and some of the properties are in second generation. The houses are magnificent and the blocks quite large which is always desirable.”

mortgage debt
Photo credit: Google Street View

The suburb’s allure extends beyond its grand homes and prestigious reputation. Regular race meetings at Eagle Farm and Doomben racecourses add a dash of excitement to the neighbourhood’s genteel character, while excellent transport connections – including two train stations – keep residents well-connected to the city.

“I love it here,” shares another local. “They have the horse racing once or twice a month… good restaurants, shops, parks, walkways, perfect location. There’s two train stations, Ascot and Doomben, and buses are easily accessible.”


Read: The Beginnings of Collins Estate, the ‘Most Cheerful’ Address in Annerley


Despite the eye-watering mortgages, Ascot’s blend of heritage charm, modern amenities, and blue-chip investment potential continues to attract Brisbane’s most discerning homebuyers. As property values climb, this prestigious pocket of Brisbane’s northside stands as a testament to the enduring appeal of traditional luxury living.

Published 15-November-2024