{"id":36102,"date":"2021-12-16T09:28:45","date_gmt":"2021-12-15T20:28:45","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=36102"},"modified":"2021-12-16T09:32:50","modified_gmt":"2021-12-15T20:32:50","slug":"rare-waterfront-breaks-property-record","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/rare-waterfront-breaks-property-record\/","title":{"rendered":"Rare waterfront block breaks property record"},"content":{"rendered":"

PHOTO: A very rare, lakefront block big enough to build a small town on, has set a new real estate record for the Hunter Region.<\/strong><\/p>\n

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A very rare, lakefront block of substantial size has set a new real estate record for the Hunter Region.<\/p>\n<\/div>\n

A Lake Macquarie property record was achieved last week via the $10.5 million sale of\u00a0160 Kanangra Drive, Gwandalan\u00a0at onsite auction, underscoring the high value with which buyers continue to regard lifestyle holdings in regional NSW.<\/p>\n

The glorious 12.5 hectare property was brought to market by Mitchell Thomas from McGrath Toukley.<\/p>\n

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\"160<\/div>\n

160 Kanangra Drive, Gwandalan, NSW 2259<\/strong><\/em><\/p>\n<\/div>\n

The auction opened with an initial bid of $5m before moving up to the impressive sale price in bidding increments of mostly $250,000.<\/p>\n

There were three active bidders vying for the Hunter Region site \u2013 a local retired couple and two business-owning families from Sydney.<\/p>\n

The successful buyers were an extended family headed by two brothers who own a tyre business based in Sydney. They plan to build a new holiday home on the site, large enough to accommodate their families for regular visits.<\/p>\n

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\"The<\/div>\n

The big site set a new Lake Macquarie record of $10.5m.<\/strong><\/em><\/p>\n<\/div>\n

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\"\u2018Bidding<\/div>\n

\u2018Bidding was strong from the start.\u2019<\/strong><\/em><\/p>\n<\/div>\n

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The property comes with DA approved plans for a house, a pool and sheds. The buyers are set to amend those plans to suit the needs of their families.<\/p>\n

\u201cThe price for this unique opportunity was always going to be set via public auction,\u201d Mr Thomas said.<\/p>\n

\u201cThe sale price reflects a true representation of value within the current market. It sets the benchmark for any future sales.<\/p>\n

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