A TIGHTLY held home in New Lambton is on the market for the first time in 86 years.
The five-bedroom art deco era residence at 152 Croudace Street was built in 1937 at which time it was used as the "poster home" for a new housing estate in the area, according to listing agent Sam Taylor from Taylor Hedley Property.
"This one was the poster house for the estate, you know, 'Build your new dream home and this is what it could look like'," Mr Taylor said.
The home has five bedrooms and three bathrooms positioned on a large 1,373 square metre block that backs onto bushland and offers expansive views.
Mr Taylor said the property is listed with a guide of $1.1 million for auction which will be held on-site on March 30 at 7pm.
The property is a stone's throw from the grand residence, The Gables, owned by landscape supplies business owners Lee and Jan Rowan that was recently listed at 161 Croudace Street with Anthony Merlo of Colliers.
Price expectations for the four-bedroom home on a 2,100 square metre block are said to be in the range of $3.5 million to $4.5 million.
Its neighbouring property, a historic home on 1,385 square metres at 172.Russell Road, is listed $2.4 million with Natalie Tonks at PRD.
"A lot of these old character homes in that pocket of New Lambton were sought-after in their day," the agent said.
"That pocket, even though it is now a main thoroughfare, was once Newcastle's elite.
"It was first The Hill and then people moved to New Lambton Heights and then back to the beach but at one point it was known to be a really desirable pocket."
And the family that owns the property has enjoyed the home enough to remain there for more than 80 years.
"The owners have owned it since it was built new so it has had the one family own it this whole time," the agent said.
"It has never been sold previously."
The house is set back from the street and includes a drive-through driveway which allows for easy entry and exit to the road.
Inside the property retains original art deco features with modern updates to the bathrooms and kitchen.
At the rear of the home is a large alfresco area that connects with the open-plan living and dining area (including a bar) with a freshly resurfaced undercover in-ground pool and a large outdoor area for entertaining that leads down to the gardens.
The agent acknowledged that the property is on a busy road however, the final stage of the Newcastle Inner-City Bypass is set for completion in 2025 which will remove up to 80 per cent of traffic from the road.
"That equates to, on average, about 30,000 vehicles per day," he said.
"It is already a desirable area because of its location and the biggest value add for that particular spot will be the bypass.
"Interest has been good so far and we have had reasonable numbers through. The people that have been through have been very complimentary of the home."
The median house value in New Lambton is $951,000, according to CoreLogic.
