ONE of Newcastle's most recognisable homes has hit the market again with expectations of selling for close to $8 million.
Listed agent Lyndall Allan of Salt Property, who is now selling the home, described the historic cliff-top terrace at 1 Ocean Terrace as offering one of the best oceanfront positions in Newcastle.
Salt Property launched the property to market on February 29, listing the four-bedroom, three-bathroom home with a guide of $.725 million to $7.95 million.
The guide falls just below the huge sum paid for a penthouse apartment on Scott Street which holds the title as the most expensive residential property in Newcastle East.
It sold for $8.3 million in September 2022.
Other significant sales in the area include a four-bedroom home at 9 Shortland Esplanade that sold for $6 million, also in 2022.
The property is back on the market but advertised without a price guide.
The multi-level property on Ocean Terrace was initially listed with another agency in March last year but was taken off the market.
The house is one of six terraces in a row that were built for the ship pilots at the Port of Newcastle in the 1880s.
"It is a landmark position for Newcastle and being at the end of that row gives you this really broad, open view," Mr Allan said.
A preview open house inspection last week drew interest from buyers from Newcastle and Sydney.
"That went really well and we have some inspections booked in from local buyers and Sydney," she said.
The home's position at the end of the row on the side closest to Newcastle Baths allowed the owners to extend the house into the cliff.
The modern extension hovering above Shortland Esplanade is integrated into the cliff face.
"While we think the result was pretty stunning and maximises the view, it was very hard work and we never gave up on getting the details right," the owner said.
"Our inspiration was really to just get it right and do the best job we could on the renovations while still respecting the existing house and its history."
CoreLogic records show the property was last sold in March 2011 for $995,000.
In addition to the extension, the owners undertook major renovations to the property to re-imagine it as a modern four-bedroom, three-bathroom home that takes full advantage of the ocean views from every room.
"The quality of the finishes and the construction is second to none," Ms Allan said.
"It is the best of the best as far as finishes and fixtures go and the way the home has been designed is to absolutely maximise the incredible position and the views that they offer.
"You get the ocean view from every single room in the house."
The extension includes a deck to soak up the unobstructed ocean views and a self-contained space with a bedroom, kitchenette, bathroom and living area which is accessible via a staircase in the kitchen from the upper level.
The gourmet kitchen has a Caesarstone island bench, walk-in pantry and premium Neff, Liebherr and AEG appliances, with the open-plan space connecting to the living area and out to the patio and deck.
The master bedroom has a freestanding bathtub in the room positioned next to the window that looks out across the ocean.
There is also a heated plunge pool on the balcony on the lower level.
"When you're sitting on those deck chairs outside it is an incredible aspect and it genuinely feels like you are sitting on a boat," the agent said.
"I have never sold a property that gives you that feeling that you are sitting on top of the water."
Inspection of the property is available by appointment.
The median house price in Newcastle East is $1.92 million, according to CoreLogic.
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