Sutherland Ave, Ascot home sells for new Brisbane record of $23 million

A historic Ascot home that recently underwent a $7m renovation has sold in an off market deal to a local buyer in the biggest sale in Brisbane’s history at a cool $23m.

32 Sutherland Ave, Ascot, has sold for a Brisbane record of $23m, after it underwent a $7m renovation. Image supplied.

A landmark Brisbane estate has sold for a staggering $23m, setting a new record for the most expensive home ever sold in the city.

In a sign of the strength of the luxury property market, the historic home at 32 Sutherland Ave in Ascot — once owned by Ray White Group chairman Brian White — has sold offmarket to a local buyer in the biggest deal in Brisbane’s history.

Construction boss Brett Walker of BWC Group bought the 1930s Queenslander on more than 3000 sqm for $10m in 2021, and has since undertaken a major $7m renovation.

Ray White Ascot principal Damon Warat negotiated the sale on behalf of Mr Walker, but declined to comment.

Jordan Navybox of Cohen Handler introduced the buyer, but also declined to comment.

The home was sold by Brett Walker of BWC Group. Photo Ric Frearson

The previous Brisbane residential sale price record was set in April last year when a riverfront property at 101 Welsby St, New Farm, fetched $20.5m.

Just last month, a riverfront home in Gordon St, Hawthorne, changed hands for $20.25m.

The latest PropTrack Home Price Index, released Friday, found Brisbane the median home price hit a new record in October of $862,000 after an annual rise of 12.51 per cent.

The Ascot estate prior to its renovation.

The median house price is now just $30,000 away from $1m at $970,000 — an 11.75 per cent annual rise, while the median unit price sits at $670,000 after rising nearly 17 per cent in the past 12 months.

REA Group senior economist Eleanor Creagh said the outperformance of the Brisbane market, with prices up 80 per cent over the past five years, had seen it become the second-most expensive capital city after Sydney.

The home in Ascot has just sold for an off market price of $23 million dollars. Picture David Clark

Sutherland Ave in Ascot is regarded as one of Brisbane’s best streets, due to its elevation, proximity to the city, and beautiful homes.

Prior to its renovation, the federation-style home at 32 Sutherland Ave had four bedrooms, plus separate quarters for a housekeeper, three bathrooms, and a formal and informal living and dining area.

Outside, a north-south, championship-sized tennis court sat at the front of the estate, and there was also a 12.5m swimming pool and cricket pitch.

Inside the Sutherland Ave estate.

According to Ray White’s luxury report, Brisbane recorded the second largest luxury house price growth among major cities in the past decade with a 102.5 per cent jump between 2014 and 2023 to a luxury home price median of $1.8m.

“Increasing wealth at the top end of town is a factor — the wealthiest Australians are getting wealthier and the top five per cent of people are far richer than they were five years ago,” Ray White chief economist Nerida Conisbee said.

Originally published as Sutherland Ave, Ascot home sells for new Brisbane record of $23 million