Property Watch: Big Sale in Bar Beach Ends 2018

There were multiple offers for the luxurious Bar Beach residence of Newcastle developers Melissa and Tony Calder-Mason before it was sold for $4.25 million last month after only two weeks on the market.

Completed in 2016 and overlooking Empire Park in a prestigious pocket of Newcastle real estate, the residence at 46 Bar Beach Avenue had five bedrooms, four bathrooms, multiple living areas, a lift, bar, pool and sauna.

It was marketed by Dalton Partners’ Anthony Merlo, who was “astounded with the high volume of serious interest in the property given its high-end market position” before the December 22 sale.

Mr Merlo quashed social media gossip that one of the Gang Of Youths band members bought the property, saying it was purchased by a Sydney couple with business interests in Newcastle.

The agent observed “a genuine supply of buyers in the $3-4.5 million price range” and said quality properties continued to achieve strong prices.

Ms Calder-Mason said they were “excited to be moving to our new apartment development in Scott Street”.

The Calder-Masons are in the process of overhauling 10-acre tourist accommodation property Greystone Estate in Pokolbin, including the relocation and restoration of an historic Merewether residence to be known as Gow House.

The $4.25 million sum was the second-highest paid for a home in Bar Beach, according to Australian Property Monitors data. It has only been surpassed by the suburb high sale of 6 Parkway Avenue for $4.7 million in 2016.

LOCATION AND LAND ON OFFER

Early interest has been mostly local with some Sydney buyer enquiry for circa 1881 Victorian homestead Heatherdene close to East Maitland positioned on 40 acres of irrigated fertile land.

John Edmondson, of Jurds Real Estate, is marketing the Pitnacree property at 85 Pitnacree Road. It has a 300-metre frontage to the Hunter River and is being sold through expressions of interest with inspections by appointment only.

The homestead has four bedrooms, marble fireplaces and 14-foot ceilings.

1880s homestead on banks of Hunter River for sale

FLETCHER MOVES TOWARDS $1MILL

The $4.25 million Bar Beach sale was not the only big one to finish 2018 in a softening market.

PRDnationwide Newcastle and Lake Macquarie raised the roof slightly in Fletcher with the $980,000 sale of 17 Sabre Close on December 21. The dual-level home had five bedrooms, multiple living spaces and was set on a quarter-acre block of land.

It eclipsed the previous highest suburb sale record, according to Australian Property Monitors data, of $977,000 which was set in July  last year for the sale of 11 Sabre Close.

According to APM data, Fletcher’s sale median rose from $622,000 in 2017 for 127 sales to $662,000 last year for 87 sales.

PRDnationwide also sold a five-bedroom home on a large block in Adamstown Heights’ Astor Road for $925,000.

First National Newcastle City sold a 1917 home on 312 square metres of land at 12 John Street in Tighes Hill for $720,000.

The three-bedroom home, known as Millabah, was on around 1000 square metres of land when sold for over $1 million at auction last August. The property has since been subdivided.

DEVELOPMENT IN TEA GARDENS

Teresa Heighington, of Ray White Newcastle and Lake Macquarie, is marketing new development The Gardens at Tea Gardens. The first stage of the development at 8 Yalinbah Street comprises four three-bedroom, two-bathroom townhouses.

They all have a downstairs bedroom, single garage plus a carport and are being sold for $550,000.

SOURCE: Newcastle Herald
POSTED: January 12, 2019
AUTHOR: Renee Valentine

@Jurds Real Estate – Cessnock and Hunter Valley Wine Country Property Experts – the place to buy, sell and lease property in Cessnock and the Hunter Region.

Newcastle Herald
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Property Watch: Big Sale in Bar Beach Ends 2018