Auction Action: Jesmond property attracts developer interest, big result in Warners Bay's James Street

OPPORTUNITY: This home on a large block in Jesmond has caught the eye of developers. It is set to go under the hammer today with a price guide of $550,000.
OPPORTUNITY: This home on a large block in Jesmond has caught the eye of developers. It is set to go under the hammer today with a price guide of $550,000.

The auction of a home in Warners Bay’s James Street that had only ever had one owner proved action-packed on February 3.

Anthony Birt of Global Property marketed the property, which was auctioned by Craig Rosevear of Cooley Auctions.

The three-bedroom residence on around 540 square metres is located one block back from Lake Macquarie.

There were six registered bidders for the auction at No.19 with bidding opening at $500,000.

After 29 bids, the home was secured by first home buyers for $655 000, described by Mr Birt as “a strong result”.

Another home expected to have plenty of interest this weekend will be at 14 William Street, Jesmond.

Tammy Hawkins, of McGrath Newcastle City, is marketing an older style home on a 914 square metre block with 20m frontage which has proven popular with developers. It is set for auction on Saturday.

“It’s a great development site with nice wide frontage,” Ms Hawkins said.

“It is also in a good position, close to the university and John Hunter Hospital.”

The property is set for auction at 10.30am with a price guide of $550,000.

Bidding is expected to start around $500,000 for a Kahibah home which has only had one owner.

Ray White’s Teresa Heigington is marketing the two-bedroom home at 73 Hamilton Street. It is on a level 424 square metre block with rear-lane access.

“Interest has been good, from young people to downsizers to investors,” Ms Heighington said. “It’s a sought-after area. It is the flattest block on Hamilton Street and it’s down near the Fernleigh Track.”

The auction is set for 11.30am on Saturday.

First National Newcastle City has three homes set for auction on Saturday.

An award-winning, dual level new home at 3 Hibberd Street, Hamilton South goes under the hammer at 2.15pm with a price guide of $1.45 million to $1.55 million.

A renovated period home at 14 Union Street, Tighes Hill will auction at 9.45am with a guide of $1 million to $1.1 million.

At 1.30pm, a two-bedroom townhouse in Merewether’s Alice Street goes under the hammer with a guide of $700,000 to $750,000.