Strong buyer interest in 'hidden' 1.7 acre block listed in Charlestown

An aerial view of Harcourts Newcastle agent Joel Soldado's listing at 397 Warners Bay Road in Charlestown which spans 1.7 acres. Picture supplied

A LARGE block in Charlestown is drawing interest from buyers in the market to renovate or knockdown and rebuild.

The property at 397 Warners Bay Road is one of the largest residential sites in the suburb, spanning 1.7 acres of land.

The home is centrally located close to Charlestown and has quick access to Newcastle Inner City Bypass. Picture supplied

"It is a large offering for Charlestown being on just under two acres," Harcourts Newcastle listing agent Joel Soldado said.

"It is very leafy, quite hidden and it is fairly elevated as well so you're among the trees but there is also a lot of land that has already been cleared so it has tremendous potential."

The block has a 1960s-era brick and tile home. Picture supplied

Mr Soldado is guiding $1.15 million to $1.25 million for the sale.

The listing has drawn strong enquiry after one week on the market, including offers from buyers who are yet to inspect the property.

The living room has a leafy outlook. Picture supplied

"We have had a few people that are going to come through on Saturday and they've already made verbal offers without even seeing it," he said.

"It's the sort of property that is generating a whole heap of interest."

CoreLogic records show the property was last sold in 2019 for $762,500.

One of the home's three bedrooms. Picture supplied

Ms Soldado said there was scope to renovate the property's existing 1960s-era brick and tile home which is set across two levels.

The home has three bedrooms, one bathroom, a kitchen and dining area, two seperate living spaces and a sun room.

The home has three bedrooms. Picture supplied

Mr Soldado said the home had DA approved plans for a modern renovation and expansion, including a swimming pool and large shed.

Alternatively, there is potential to subdivide the land.

The property has DA approved plans for a renovation and extension, with the addition of a large shed and swimming pool. Picture supplied

"The house is very comfortable but I think whoever ends up buying it will do a major renovation of the existing house or knock it down and build a brand new house with some nice landscaping and have an absolute oasis," he said.

"There is potential for it to be developed subject to council approval.

The home sits on an elevated position surrounded by established trees. Picture supplied

"The current owners bought it with the plan to have a nice big block of land for their family to enjoy."

The property is open for inspection on December 16 at 10am.

The median house value in Charlestown is $890,000, according to CoreLogic.

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