$23 Million Sale in Sutherland Ave, Ascot Signals Shift in Brisbane Home Prices

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

Street Spotlight: Sutherland Ave, Ascot

Sutherland Avenue in Ascot tells a compelling story of transformation and established community ties. In 1936, aerial photography reveals only a handful of houses dotting this prestigious street, a stark contrast to today’s distinguished residential landscape.



The street’s evolution is reflected in its sales history, with notable transactions like 37 Sutherland Avenue changing hands for $415,000 in November 1989. Today, the avenue stands as a testament to residential stability, with 100% owner-occupancy and residents staying an average of nearly 14 years – more than half having called it home for over a decade. Below, you will find an aerial image taken in 1936, capturing a glimpse of this street’s humble beginnings in what would become one of Brisbane’s most esteemed neighborhoods.

Sutherland Ave, Ascot Residents

NUMBER OF PROPERTIES: 16
% OF OWNER OCCUPIERS ON STREET: 100%
AVERAGE TIME FOR OWNER OCCUPIERS: 13 years and 10 months
% OF PEOPLE 10+ YEARS: 54%

Sutherland Ave, Ascot – As It Looked in 1936

Sutherland Ave, Ascot in 1936


SOME TYPICAL PROPERTY SALES ON SUTHERLAND AVE FROM YESTERYEAR

Property AddressSale PriceSale Date
30 Sutherland Ave, Ascot$6,120,000Mar 2003
42 Sutherland Ave, Ascot$1,400,000Apr 2000
37 Sutherland Ave, Ascot$415,000Nov 1989

SUBURB PROFILE 

The median price of a 3 Bedroom House in Ascot in 2024 was $1,825,000
The median price of a 3 Bedroom House in Ascot in 2020 was $1,045,000
TYPICAL INCREASE OF A 3 BEDROOM HOUSE IN ASCOT SINCE 2020 : $780,000

The median price of a 4 Bedroom House in Ascot in 2024 was $2,425,000
The median price of a 4 Bedroom House in Ascot in 2020 was $1,425,000
TYPICAL INCREASE OF A 4 BEDROOM HOUSE IN ASCOT SINCE 2020 : $1,000,000

The median price of a 5 Bedroom House in Ascot in 2024 was $3,250,000
The median price of a 5 Bedroom House in Ascot in 2020 was $2,450,000
TYPICAL INCREASE OF A 5 BEDROOM HOUSE IN ASCOT SINCE 2020 : $800,000

The median price of a 2 Bedroom Unit in Ascot in 2024 was $650,000
The median price of a 2 Bedroom Unit in Ascot in 2020 was $400,000
TYPICAL INCREASE OF A 2 BEDROOM UNIT IN ASCOT SINCE 2020 : $150,000

The median price of a 3 Bedroom Unit in Ascot in 2024 was $1,106,000
The median price of a 3 Bedroom Unit in Ascot in 2020 was $666,000
TYPICAL INCREASE OF A 3 BEDROOM UNIT IN ASCOT SINCE 2020 : $440,000



If you know Sutherland Ave, Ascot well and you have some anecdotes or details to add, please email us at editor@brisbanesuburbsonlinenews.com.au.

Ascot: A Look Back in Time at One of Brisbane’s Premier Suburbs

Ascot has long been regarded as one of the best places to live in Brisbane, with its affluent neighbourhood and property values maintaining their strong growth. Take a look at its evolution into the blue-chip suburb that it is today.

With a tightly held collection of desirable and beautiful houses, Ascot is known for its picturesque tree-lined streets, hilly residential areas with lovely views of Brisbane, racecourses, and upmarket lifestyle precinct. 

Early Ascot

Historically, Ascot was occupied by the Aboriginal Turrbal group, described by explorer John Oxley as “the strongest and best-made muscular men I have seen in any country.”

The Turrbals built hunting grounds near the Brisbane River and established private ownership of specific sections of the area.

Wealthy settlers started moving into Ascot in the mid-1800s, following the clearing of lands and building of basic roads. Pastoralist James Sutherland bought a large portion of land in the area, which was later established as Sutherland Avenue, one of the highly sought-after locations in the suburb.

This section consists of 15 magnificent houses, including the heritage-listed house, Windmere. The Victorian-style house with its iron-lace verandahs is one of the finest examples of Queensland’s colonial architecture. 



The Racecourses

In the 1860s, the Eagle Farm Racecourse was established in Ascot in support of horse racing, one of the earliest sports in Brisbane. Up until the 1920s, racing stables were a frequent sight around the suburb.

Eagle Farm Racecourse
Photo Credit: State Library of Queensland
Tinkledell wins a race 1930
Photo Credit: State Library of Queensland

The Doomben Racecourse opened several years later in the 1930s and, like the Eagle Farm Racecourse, became a prominent racecourse in South East Queensland and was well-attended by the region’s most affluent families.

Happy quartet at the races 1932
Photo Credit: State Library of Queensland

Doomben was originally a property of The Crown until 1915, when it was bought and turned into a sustainable racing track.

Presentation of the Tattersall's Cup in 1933
Photo Credit: State Library of Queensland

During World War II, the racecourses were primarily converted into Camp Ascot for the Allied troops. Several buildings and homes in the suburbs were also occupied by the U.S. forces, including the Ascot spy house, Nyrambla, where the Central Bureau intercepted and decoded Japanese transmissions. 

Today, the Brisbane Racing Club, formed in 2009, manages the racecourses and preserves the history of thoroughbred horse racing in Queensland.

Urban Growth in Ascot

The establishment of both racecourses spurred the growth of Ascot with the opening of railways and tram services that fostered the development of the residential areas, schools, and shopping strips. 

Aerial view of the residences
Photo Credit: State Library of Queensland

The Ascot Railway, built in the late 1880s, provided convenience for punters and racing aficionados who used to arrive via horse and buggy, shuttlecock boat, or cross river.

After World War I, the Ascot Railway Station was expanded with a second larger building and a pedestrian subway. It was electrified in the 1980s. Today, most of its antiquated features remain but it has been unstaffed and suspended since 1993. 

Ascot Railway in the 1880s
Photo Credit: State Library of Queensland

The Ascot State School opened in the 1920s on Pringle Street, following the dramatic reforms made in the Queensland Education system. Six years prior, Ascot locals determined a need to establish a state school but World War I disrupted its construction until 1919. 

When it finally opened, Ascot State School had an initial batch of 124 students, who were not just taught academics but also developed their aesthetic tastes, gardening skills, and sports abilities.



Chateau Nous

One of the significant homes to be built during Ascot’s astounding urban growth was Chateau Nous along Rupert Trc, which served as an early example of Functionalist domestic architecture in Brisbane.

 Chateau Nous, Russel Tce
Photo Credit: Queensland Heritage Listing

The house was built for Brisbane dentist George Stewart and his wife Eileen and was considered as ultra-modern during its time as it featured an electric dumb waiter and a line of electric kitchen appliances. 

Racecourse Road in Ascot
Photo Credit: Brisbane City Library

Today, Racecourse Road has become the prime location for the village shops and restaurants that also serve Hamilton locals. It boasts of over 130 businesses.

The tram that once ran down the centre of the street stopped service in the 1960s. Today, Ascot is serviced by four transport stops and TransLink’s CityCat terminal in Bretts Wharf.