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Newcastle Herald
Newcastle Herald
National
Jade Lazarevic

Bar Beach's multimillion-dollar drive clocks up another big sale

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."

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