Property Watch: A new sale record Kotara South could already be under threat.

TRANQUILITY: This retreat-like residence on nearly 2000 square metres in Kotara South's Stuart Street has sold for a record $1.09 million.
TRANQUILITY: This retreat-like residence on nearly 2000 square metres in Kotara South's Stuart Street has sold for a record $1.09 million.

A renovated rainforest retreat set on nearly 2000 square metres has sold for $1.09 million, setting a new suburb record for Kotara South.

But it may already be under threat with another unique listing hitting the market through the week that is expected to also fetch over $1 million.

Serial renovators Kristin Hughes and partner Ben Street, who own business Rockscape Unique Outdoor Designs, bought a 1884 square metre property at 37 Stuart Avenue in 2012 and slowly renovated.

The finished product was a home which blended indoor and outdoor living and offered tranquility moments from the hustle and bustle of urban life.

They added several outdoor spaces, including entertaining decks which sit canopied by trees, a rainforest boardwalk, fire pit, cabana with spa, waterfall and chicken house.

Andrew McKiernan, of McKiernan Real Estate, sold the four-bedroom residence by expressions of interest and always felt it would break the $1 million mark.

“I’d never seen anything like it before,” Mr McKiernan said.

“I knew it was going to be a stand-out and it was hard to compare it with anything else in there. It warranted to be over $1 million for what it was and, as it turned out, we had three people who would have bought it for over that.”

The previous suburb record was $1.07 million, for a home on Kirkdale Drive sold this year.

UNIQUE: This multi-level residence in Kotara South was designed by well-known Newcastle architect Kevin Snell and is expected to fetch over $1 million.

UNIQUE: This multi-level residence in Kotara South was designed by well-known Newcastle architect Kevin Snell and is expected to fetch over $1 million.

A four-bedroom home locals refer to as “the whitehouse” in Kuranda Crescent hit the market this week and is also expected to sell for over $1 million.

The residence at No.53 was designed by Newcastle architect Kevin Snell, who also produced Queen’s Wharf tower which has been in the news of late.

Designed over multiple levels to offer city and ocean views, Robinson Property’s Cveta Kolarovski is marketing the property and said it was a unique offering with high vaulted ceilings, cathedral windows, multiple living spaces, pool and a lower level retreat with kitchenette.

The home’s first inspection is today at midday.

$4M SALE IN MEREWETHER

The second biggest sale in Merewether has been recorded for the year with a large block overlooking the beachside suburb believed to have be sold for over $4 million.

EYE-CATCHING: This residence on over 2000 square metres in Merewether has expansive views and is believed to have sold for well over $4 million.

EYE-CATCHING: This residence on over 2000 square metres in Merewether has expansive views and is believed to have sold for well over $4 million.

The 2302 square metre property at 28 Charlotte Street was marketed by Robinson Property’s Mike Flook through an expressions of interest campaign.

Mr Flook said the property had sold for an undisclosed sum but it is understood to have been in excess of its $4.25 million price guide.

The highest sale for Merewether this year was $5.05 million.

$1M IN GLENDALE

The median house price in Glendale may be $444,975, according to Australian Property Monitors, but a home on Jubilee Road is on the market with a price range of $1.04 million to $1.08 million.

The four-bedroom home is on 1.4 acres and has been listed through PRDnationwide Hunter Valley.

UNDER $500K

There are plenty of million dollar homes selling but there are also still buys to be had under $500,000.

Three-bedroom homes in Adamstown Heights (Northcott Drive), Cardiff South (Crockett Street) and Waratah (Dawson Street) all sold for under half a million dollars through the week.

STARR EXPANDS

Starr Partners has opened an office in Newcastle with the new agency officially opening its doors in Bishopsgate Street, Wickham on December 1.

The Starr Partners Newcastle director is Peter Neskovski and his team includes his wife Jackie and son Mitchell.

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