New build in Maryville's McMichael Street listed with guide of $1.4 million to $1.54 million

Once a working class suburb, shunned for its proximity to heavy industries, Maryville has experienced a rapid rise in popularity for home owners in recent years.

Its change is characterised perfectly in a new build on McMichael Street, which is set to establish a new benchmark for the inner city suburb if its sale reaches a price guide of $1.4 million to $1.54 million.

The price would more than eclipse any other seen in Maryville to date and would continue a streak of sales in the past 12 months in that street.

Last year, according to Australian Property Monitors, Maryville experienced growth of 26.3 per cent with the median residential sale price rising from $590,000 for 23 sales in 2016 to $745,000 for 27 sales last year.

Nine of those sales were in McMichael Street, including $1.175 million being paid for a four-bedroom home, which comprised the original residence with a rear warehouse-style renovation.

The highest recorded sale for the suburb sits at $1.77 million for a home sold in Estell Street in 2015.

But 16 McMichael Street will take the suburb to a new level, according to marketing agent George Rafty of First National Newcastle City.

He has listed the brand new dual-level, four-bedroom residence which is set for auction on March 17.

Interest is expected to be strong when the first open home is held today from 11.15am to noon.

He said the home, which includes a Balinese-inspired outdoor spa bath on the entertaining deck overlooking the pool, does not compare to anything else in the suburb.

“I think Maryville is so up and coming,” Mr Rafty said. “This is as good as inner city as you're going to get. I know we all talk about Merewether and Hamilton South, but Maryville is like the gateway to the harbour.

“You walk down the end of the street and you're on the walkway and you're into town and the foreshore; it’s about lifestyle.

“And this home is taking it to a new level for this location. I've never seen anything like this in Maryville.”

The home has been built by builder John Thomson, owner of Paddington Properties.

Mr Thomson still holds the suburb sale record for Cooks Hill for a home in Dawson Street he built and sold for $2.6 million in 2008.

He paid $1.1 million for 16 McMichael Street early last year. The block was over 600 square metres in size, had a double frontage and featured an original three-bedroom weatherboard home.

It comprised two titles and the land has now been subdivided. The other block is vacant but is set for a new home of its own.

“I always thought two houses,” Mr Thomson said. “There was a possibility of units but I didn't think that was suitable for the area.”

The home has an alfresco area on both levels. Both have built-in barbecues, outdoor kitchens and wine fridges.

There is a downstairs main bedroom with ensuite plus a separate study. 

There are Tasmanian Oak floors, an inground pool, low-maintenance yard, single lock-up garage and a Caesarstone kitchen with Smeg appliances and a walk-in pantry.

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