Newcastle beachside knockdown sells under $5.5 million off-market
A 440-square-metre beachside property in Merewether sold off-market for under $5.5 million despite renovation works.
The home at 1 Helen Street, Merewether, sold to a Newcastle buyer this week. The sale was off-market.
Set on a corner block, the single-level property sits just steps from Bar Beach. The property has direct access to the Bathers Way.
The new owner plans to demolish the home for a complete rebuild. The previous owners had renovated it extensively.
They blended modern updates with original 1940s details. Agents note that beachside land buyers typically seek properties around $10 million that can be built on.
Renovated homes at lower price points appeal less. The transaction is part of a wave of high-value off-market sales across Newcastle.
- under $5.5 million
- Sale price guide
- $2.6 million in 2017
- Previous sale price
- 440 square metres
- Block size
Why it mattersBeachside land commands premium prices in Newcastle even when the home must be demolished, showing where the real estate value lies.
AustraliaNewcastle property market continues shifting toward off-market deals, with beachside locations in high demand despite demolition costs.
✓ Claims checked against the source. checked 14 h ago
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