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November 30, 2021

Newcastle home set for new sale record

A timeless beachfront home in Merewether looks set to become the highest selling residential property in Newcastle’s history when it goes under the hammer next month.

The 5-bedroom, 5-bathroom home located at 30 Lloyd Street Merewether will be sold under the online Friendly Auction System through PRD Newcastle and Lake Macquarie’s Natalie Tonks and Mark Kentwell. The home is expected to surpass the agency’s recent record-breaking sale for the city of $8.7 million at 44 Kilgour Avenue Merewether.

This 1960’s architectural marvel not only boasts truly epic views, but it is protected from southerly winds and has beautifully landscaped terraced gardens. Separate from the pool at the front, this sanctuary-like space is filled with unexpected delights and a luxury resort vibe. The home is set on 1226 square metres of land with uninterrupted ocean, beach & city views.

Mr Kentwell said while there are no direct comparisons in the marketplace to refer to, the attributes of the property suggest it well and truly substantiates a new record sale price for the region.

“We’ve recently sold a property on Bar Beach Avenue, of which the house is going to be knocked down. The land price for that South-East facing property equated to around $11,500 a metre for a block around half the size,” said Mr Kentwell.

“Our initial friendly auction price guide will be $9 million, so at less than $7,500 a square metre, astute buyers looking for the best site remaining in Merewether will see the value and realise that even though this range is precedent setting, it’s for a good reason. It’s the last chance they’ll ever get to buy a site like this in this ballpark of price. We’re not sure where it will land on price, but whatever a buyer pays, it will seem cheap in a few years’ time.”

“Lloyd Steet is an equally desirable position to Bar Beach Ave, though this position has the much sought-after North-East aspect, with uninterrupted ocean, beach and harbour views. The brilliantly engineered flat back yard is protected from the Southerly winds. It’s impossible to find another 1226 square metre double block in a position like this, so it’s literally the last of its kind this close to the beach in the region.”

This is also unique in that there is a very solid home on the site and renovations are not 100% complete which means its ready for transformation. This is the absolute ultimate location in terms of privacy and the new owner will have the opportunity to finish its DA-approved, architect-led renovation, or instead choose to lead a new DA, redesigning into a new home or multiple residences in this triple-A beachside setting.

“It will be up to the new owner to decide how they work with the site. Whatever is done there will likely result in being a contender for the best beachside home in the Newcastle region,” said Mr Kentwell.

“Byron Bay has seen it, the Gold Coast has seen it and Newcastle has seen it. That is, people coming out of capital cities and choosing marketplaces that have got the lifestyle, plus a great economy.”

“Newcastle is an even safer bet than the other regions experiencing this growth though, with a very diverse economy, population growth, massive infrastructure investment and a property market that has already proven over the last two decades to outperform most of the country, without the peaks and troughs. Things are looking better and better for Newcastle, the secret is well and truly out.”

The current and previous owners have each owned the home and raised their families for over 20 years. This unique home is now ready for a new generation.

The home’s driveway allows for vehicles to drive up the driveway, turn around and drive out. Reigning over an elevated double block with an impressive 30.48m frontage, the property is located just 350 metres from Merewether beach.

Inspections are by appointment only, and the home will be sold at auction (if not sold prior) on Monday 22nd December by five-time winning auctioneer on The Block Damien Cooley.

For a virtual tour of the 30 Lloyd Street Merewether home click here.

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