ONE of Newcastle's most recognisable homes has sold prior to auction.
The property at 45 Metcalfe Street in Wallsend, known to many as the 'Ye Old Pub', sold for $643,000 with Lucas Rankin at Presence Real Estate.
The new owners confirmed that they planned to retain the home's distinctive image of a woman and the words 'Ye Old Pub' painted on the side of the house.
"The purchasers 100 per cent plan on keeping it," Presence Real Estate listing agent Lucas Rankin said.
The four-bedroom home was snapped up by a young family from the Newcastle area who were one of three parties involved in negotiations to buy the property.
The home has drawn much curiosity from passers-by over the years.
The history of the long-standing property dates back to circa 1875 when it was known to the Wallsend community as the New Ballarat Hotel.
After ceasing trade as a pub, the property went on to operate as the H.C. Harris Chocolate Factory in the 1930s and, almost a century later, one of the home's previous owners ran a dance studio on site.
Original features included the cellar underneath the home, pressed iron ceilings and walls, and original fretwork, timber floors and doors.
"The buyers came through and just loved the character that the home offered and thought that they could make it their own over time," he said.
The agent said the property drew 77 enquiries throughout the auction campaign and 14 groups at the open house inspections.
There were 30 auctions scheduled across Newcastle and Lake Macquarie in the week ending October 22.
According to CoreLogic's preliminary results, the region's auctions recorded a clearance rate of 85 per cent, up from 52.9 per cent the previous week when 22 auctions were scheduled.
One of the biggest results of the week was the auction of a property in Hamilton South that was listed for the first time in 60 years.
The three-bedroom, two-bathroom home at 10 Thomas Street drew six registered parties who commenced the bidding at $1 million.
The property sold under the hammer for $1.41 million with First National Real Estate Newcastle City.
In Lake Macquarie, a five-bedroom, three-bathroom home at 18 Aberfeldy Close, Charlestown sold at auction with Shiels+Co Property.
After an opening bid of $1 million, the property was sold for $1.3 million to a young family who plan to update the home.
"It's a beautiful big family home and we had two actively bidding on that one," Mr Shiels said.
In Warners Bay, a home at 24 Charles Street drew three registered bidders who kicked the auction off at $800,000 before the property was sold under the hammer for $950,000.
Other auctions saw a renovated three-bedroom, one-bathroom home on a corner block at 7 Third Street in Adamstown sold with Spillane Property for $1,045,000.
A renovated three-bedroom, one-bathroom home on a 702 square metre block at 13 Cambridge Drive in Rankin Park sold at auction with Harcourts Newcastle.
Listed with a guide of $795,000, the auction drew four registered bidders who opened with a bid of $805,000 before the property went on to sell for $915,000.
In Mayfield, a three-bedroom brick and tile home at 57 Bull Street sold for $1.125 million with Ray White Newcastle.
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