A home on Memorial Drive at Bar Beach has sold for more than $5 million, just weeks after another property on the same multi-million dollar strip sold for $6.9 million.
The architecturally-designed award-winning house at 80 Memorial Drive sold one day prior to auction last week, with the sale price believed to be close to the $6 million mark.
Occupying an elevated position directly opposite Susan Gilmore Beach, an initial guide of $6.95 million was adjusted for the four-bedroom at 80 Memorial Drive, Bar Beach listed with agent Greg Handsaker of Walkom Real Estate.
"We had this offer and the owner deemed it a fair offer so she was happy to sell the day before the auction," Mr Handsaker said.
Built in 2002 and designed by local architect Matt Sainsbury, the two-storey home boasts coastal and city views on two sides.
The sale joins a string of high-priced luxury properties recently sold on Memorial Drive which is one of the most expensive addresses in Newcastle.
In April, 'Ocean View' at 92 Memorial Drive sold for $6.85 million and in August a modern beachfront home at 96 Memorial Drive sold to a local family for $6.9 million with Robinson Property's Michael Flook.
"If you have the significant beach view, that can make a difference of about $1 million," Mr Handsaker said.
"This property didn't have that significant beach view."
