Retro Newcastle home transforms from felt wallpaper to $2.3m designer home

Builder Rowan Parker bought a 1950s Adamstown Heights time capsule for $1.23 million and transformed it in a year, doubling the upper floor with wine cellar and pool, now valued at $2.3 to $2.5 million.

Why it mattersThe project shows how smart use of existing structures can nearly double a property's value without demolishing and starting from scratch.