The family of real estate giant Ray White have sold their Brisbane home prior to auction.
Located in the illustrious suburb Ascot, the classic federation home sold after less than three weeks on the market.
Ray White agency reported there was a ‘bidding war’ between four buyers last week, all vying to buy the estate.
Local Ray White principals Matt Lancashire and Dwight Ferguson said they had to field hundreds of inquires for the property, both Australian and international.
It’s the family home of Ray White Group Chairman Brian White and wife Rosemary, who have owned it since 1975.
The family have since moved to Sydney to expand the Ray White network.
Due to the extended lockdown in Sydney, the chairman was going to be unable to attend the auction, which was planned for 17 July in Brisbane.
The Ray White family owns some of Australia’s best real estate from Point Piper in Sydney to Noosa’s First Point, but their Ascot home was their most beloved treasure.
“I have seen all the property cycles, and I have never seen such a strong seller’s market off the back of low interest rates and intense local buyer demand,” Mr White said.
“We had been thinking about selling in Ascot for the past 12 months and we listened to the advice of Matt and Dwight about why now was the best time to sell on the property clock.”
The home holds special memories for Brian and Rosemary, having raised their sons there. Their son Dan White now leads the real estate group.
“The home is perfectly designed for Queensland family living. There’s great outdoor spaces which give full flexibility to energetic activities including a cricket practice pitch, all with great privacy,” Mr White said.
The Ray White family’s beloved estate includes a north-south, championship-size, floodlit tennis court, 12.5m swimming pool, plus a grand marble entrance and ornate internal columns.
Framed by imposing, towering hedges, few would be aware of the regal grounds and centrepiece Queenslander beyond the greatly admired Sutherland Ave façade.
It features four bedrooms (not to mention a separate quarters for a housekeeper) and embodies all of the grand features of the classic style, including fireplaces, formal lounge and dining areas. There is also a separate study, music room and large entertainment area.
Ray White was established in 1902 in Crows Nest outside Toowoomba by Brian’s grandfather.