LEE and Jan Rowan have listed their landmark New Lambton home 39 years after purchasing the grand residence.
The art deco home known as The Gables hit the market on Thursday with Colliers' Anthony Merlo who described the property as a "once-in-a-lifetime" opportunity.
The property is for sale via an expressions of interest campaign.
Mr Merlo could not be drawn in on a potential sales figure but suggested similar iconic properties of this magnitude and land size in the area had previously sold in a range of $3.5 million to $4.5 million.
The grand home at 161 Croudace Street is arguably one of the most well-known in the Newcastle area with its landscaped gardens and established trees.
The Rowan family is well-known in the region as the owners of Lee Rowans Garden World, hence the property's manicured grounds.
Mrs Rowan said the couple had enjoyed the development and enhancement of the grounds surrounding the home, and their wish is that another custodian will provide the same care for the home and the gardens as they have done.
The semi-retired couple is selling in order to downsize and move into the city.
"This residence will be of interest to families wanting a classic home of yesteryear and will once again make the perfect long-term or forever home for its fortunate owner," Mr Merlo said.
"The Gables delivers a special atmosphere more akin to owning an English manor than your typical Newcastle home."
Inside the home has four bedrooms and two bathrooms with original art deco features, a large formal lounge with polished tallow wood floors and a stately dining room, a secondary lounge and casual dining areas.
There is also a billiards room and verandas capturing views across the city, harbour and ocean.
Positioned on 2,100 square metres on the corner of Croudace Street and Russell Road, the house is surrounded by large park-like trees including a Virginian Oak that is believed to be around 75 to 85 years old, and the Himalayan Cedar that was once a spectacle for locals to visit during Christmas when it was strung with lights.
"Locals would come near and far to see this or on Sunday afternoons just walk by to simply admire the gardens," Mr Merlo said.
"Even in its early days, it was a spectacle."
The agent said that at one time, people would pay to view the garden and the fees were donated to the Mater Hospital.
The house dates back to the late 1930s when it was built by master builder Charles Drinkwater.
Arthur Newbold, a brick refractory manufacturer and Newcastle businessman with an interest in gardening, was the home's first owner.
Mr Merlo said that at the time, Mr Drinkwater was constructing modest brick and tile homes for a 600 pounds, while The Gables was purchased inclusive of gardens for 7000 pounds, making it one of the most expensive properties of its day.
Only three owners have held the property in the past 85 years, starting with the Newbolds from 1939 to 1958, The Abraham family, who were retailers in the female fashion industry, from 1958 to 1983, and the Rowans who purchased the home in 1983 for $310,000, according to CoreLogic.
Mrs Rowan said that she and her husband Lee would miss the home but it was the right time to leave and pass it on to another family.
"We will be sad to leave as it has delivered many happy family memories over the years," she said.
Inspection of the home is by appointment only.
