The Merewether beachfront house has recently been sold for $8.7 million to a local family, making it the highest-selling residential property in Newcastle.
Pegged as one of Australia’s grandest homes, the heritage-listed property features five bedrooms, four bathrooms, and a separate garage building with a total floor space of 488 square metres spanning across a 1,689 square metre block of land.
It also stands on a cliff with views of the both the cityscape and the Pacific Ocean.
Prior to this purchase, the property was last sold for $3.7 million in May 2017. The previous owners had enhanced the house with features such as a marble fireplace, entertainment rooms, wrap-around verandas, wine cellars, and an in-ground pool.
The 44 Kilgour Avenue Merewether was sold by PRD Newcastle and Lake Macquarie’s Mark Kentwell, Natalie Tonks and Chasse Ede, beating their own record of $7.25 million for a John Parade house in September 2020 and $5.45 million for a Newcastle East penthouse in August 2020.
“These premium properties are attracting overwhelming interest from Sydney and interstate buyers, but it is always great to see a local family move into such an iconic home with a rich history,” Kentwell said. “This sale is significant for Newcastle and the wider Hunter as it shows how robust the city is during times of economic uncertainty.”
As PRD and Lake Macquarie hit their third consecutive record, Kentwell said that the key to success lies in pre-market campaigns that have built PRD’s database over the years, where prospective buyers are keen to buy premium properties.
“The last record threshold of $7 million took over 12 years to surpass. This record took under 12 months to surpass. It’s clear now that Newcastle is no longer a well-kept secret,” Kentwell said.
