The long-time home of Piggott's Pharmacy founders Chris and Shirley Piggott has sold at auction, drawing a standing-room-only crowd and closing a nearly 40-year chapter for the prominent Newcastle family.
The in-room auction of the five-bedroom house at 100 Queens Road, New Lambton, attracted more than 30 spectators watching as two buyers competed to secure the property.
Salt Property's Selina Rankin, who listed the property with a guide of $3.8 million alongside Lyn Goodin-Collis, said the two registered parties were both local families.
The auction opened at $3 million, climbing to $3.3 million before entering into discussions with the two buyers.
"We went into consultation with both buyers and came back into the auction room and had another bid of $3.5 million," Ms Rankin said.
"The $3.5 million bid was offered and the Piggotts then accepted.
"The owners were over the moon that it went to another family and the purchasers themselves were thrilled to secure the property and take it into the next generation.
"The fact it was passed from family to family paved the way for the Piggotts to accept their offer."
Ms Rankin said the 1834-square-metre block size, the large-scale home and features including an ATP-approved professional tennis court and swimming pool appealed to the buyers.
Chris and Shirley Piggott had held the property since 1987 and they raised their four children there.
The couple founded the Piggott family-owned pharmacies in Newcastle after they met while studying pharmacy at Sydney University in 1968.
Set across two titles, the property includes a five-bedroom, three-bathroom house with a 51-metre frontage overlooking Blackbutt Reserve.
The 1970-built house spans two levels and retains its original interiors.
"It was full of nostalgia," Ms Rankin said.
"It's an iconic property with the sheer size and all it had to offer with the tennis court, the pool and the big home opposite the reserve.
"The new owners are proud to be taking over the reins and keep it as a family home to have their children grow up in the property."
Ms Rankin said 15 groups inspected the property during the campaign and the listing generated significant interest, including on auction night.
"We had a full auction room with 34 people there on the night just to spectate, including two sets of neighbours," she said.
"We had people calling us asking 'When is the auction? I need to come along and watch it'.
"I've never had an auction room like it; it was standing room only."
Cotality records show the property was last sold in 1987 for $357,000.
According to Cotality's preliminary results, 22 properties were scheduled for auction across Newcastle and Lake Macquarie in the week ending July 19.
Auctions in the region recorded a clearance rate of 47.4 per cent.
In neighbouring Lambton, a three-bedroom house with rear lane access at 30 Illalung Road attracted a flurry of bids at auction.
Listed with a guide of $1.295 million with Todd Mason of Stone Real Estate Newcastle, the auction drew five registered bidders.
The property's 625-square-metre landholding and potential for dual occupancy appealed to buyers.
"Properties with rear lane access are becoming more popular for granny flats and dual living set-ups," Mr Mason said.
"I think most of those there on the day were either looking to add dual living or garaging at the rear, so there were a few options."
After an opening vendor bid of $1.2 million, four of the five bidders engaged in the hotly contested auction which had more than 30 bids and climbed in increments of $5000 and $1000.
It was sold under the hammer for $1.375 million.
Cotality records show the property was previously sold in April 2024 for $1.075 million.
In Stockton, a beachfront home held for 26 years was sold before auction with Salt Property listing agents Amy Houston and Selina Rankin.
The 1960s-built three-bedroom, one-bathroom house at 9 Barrie Crescent sold for $2 million to a family from Newcastle who plan to complete a knockdown-rebuild on the 613-square-metre block.
Sitting directly across from reserve and fronting the beach, the property was purchased in 1999 for $123,400 from the Department of Housing.
"It was quite special because the vendor, who passed away late last year, had bought the property after she won the lottery," Ms Rankin said.
"She was renting the property and purchased it as her family home after winning Lotto, and all the children grew up in the home."
The median house value in Stockton is $1.27 million.
