One of Merewether's biggest residential blocks could push Newcastle over the $9 million barrier days out from Christmas.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
A whopping 1226 square metre property at 30 Lloyd Street will go to auction on December 22.
The five-bedroom, five-bathroom home, which has uninterrupted views of Merewether beach, has an initial price guide of $9 million.
Also in the news:
- Theatre is back in Maitland
- Wet weather set to continue
- Morpeth bridge light show for special event
- Robber hands himself in
- No early freedom for NSW's unvaccinated
- National award for Maitland chef
- Barrie's ashes scattered at East Maitland golf course
- Jobs on the line as Mai-Wel contracts slashed
- Peter Blackmore of retirement, RV life and council elections
PRD Newcastle and Lake Macquarie's Natalie Tonks and Mark Kentwell said while the home's unique nature meant attaching a dollar-figure was difficult, there was every reason to believe it would top the record $8.7 million paid for Merewether's 44 Kilgour Avenue in September.
"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," Mr Kentwell said.
"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.
"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."
On the market for the first time in nearly 20 years, the circa-1960s home is part-way through a renovation.
MEREWETHER'S BIGGEST SALES
- $8.7 million: 44 Kilgour Avenue (Sep 2021)
- $7.25 million: 38 John Parade (Sep 2020)
- $6.15 million: 10 Ocean Street (Sep 2020)
- Do you know you can subscribe to get full access to all Maitland Mercury stories? Subscribing supports us in our local news coverage. To subscribe, click here.