Property Watch: Record sale in Bar Beach complex as Cube@79 proves popular

NEW CEILING: This two-bedroom townhouse within walking distance of Bar Beach and Darby Street was bought through the week for $887,000.
NEW CEILING: This two-bedroom townhouse within walking distance of Bar Beach and Darby Street was bought through the week for $887,000.

A Bar Beach townhouse has set a new mark for its complex after the Wrightson Avenue residence proved popular in the marketplace.

Tammy Hawkins of McGrath Estate Agents Newcastle sold No.4 in the boutique complex of eight homes for $887,000 through the week.

The renovated two-bedroom townhouse featured a double garage, internal courtyard and raked ceilings.

“We had heaps of interest in it, heaps of Sydney interest as well,” Ms Hawkins said.

“It was an out-of-area buyer in the end, an investor, and a good result.

“There was not a lot to compare it to. One just sold there last year but it’s pretty tightly held that strip.”

No.3 was sold in November last year for $825,000 and the previous highest sale before then was $675,000 in July of 2016.

“The architecture of the home was really quite lovely,” Hawkins said. “I’m told it won building awards when it was first built.”

POPULAR CUBE@79

Half of the homes in a six-townhouse development unveiled for Adamstown this month are already under offer.

Cube@79 in Teralba Road is being marketed by PRDnationwide Newcastle & Lake Macquarie. Mark Kentwell is the listing agent and Steve Macnamara the selling agent.

“We’ve only been on the market in our own database and social media within a week and we’ve had deposits on three out of the development already,” Mr Macnamara said through the week.

“It’s a very unique product. It’s something that Adamstown doesn’t have at the moment. The price point is a selling factor but it’s got a lot to do with design as well.”

All townhouses are three bedroom and two bathrooms and range in price from $649,000 to $690,000.

PRDnationwide Newcastle & Lake Macquarie are also now taking expressions of interest for Neufort Wickham.

The new 135-apartment development at 12 Railway Street which has gained development application approval from Newcastle City Council.

MOVING FAST: Three townhouses in the six-residence development Cube@79 for Adamstown are already under offer.

MOVING FAST: Three townhouses in the six-residence development Cube@79 for Adamstown are already under offer.

LAKE ACTIVITY

A flurry of properties hit the market last week as things picked up from a momentary Christmas-New Year listing lag.

But feedback from many agents around town and beyond is properties are still moving well.

Paul Wrigley, of Ray White Toronto, said sales had remained strong from Speers Point to Wangi Wangi through the holiday period.

“There has been plenty of sales and buyers active in the area,” Mr Wrigley said. “It’s probably one of the best starts to the year we’ve had.

“The prices we’ve been getting have been really good; they’ve been high prices.”

He said demand was coming from Sydneysiders, Newcastle residents and immediate locals.

“I think it’s value for money but more importantly it’s just a great place to live,” he said.

A RARE OFFERING ON THE HILL

A property on The Hill nearly 1000 square metres in size being offered for the first time in over 40 years is expected to fetch a fine figure when it goes to auction on February 21.

The home at 57 Brown Street is one the original waterboard houses and has been listed through PRDnationwide Newcastle & Lake Macquarie.

TIGHTLY HELD: This home on a large block in Brown Street on The Hill has been in the same family for over 40 years.

TIGHTLY HELD: This home on a large block in Brown Street on The Hill has been in the same family for over 40 years.

Selling agent Joel Soldado said a price guide was yet to be set but expected it would be “extremely well received”.

Vacant land at 3 Queen Street, Cooks Hill sold for $2.7 million in June last year and a 1000-square metre block in The Hill’s Tyrrell Street sold for $1.86 million one year ago.

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