AFTER hitting the market in June last year, a grand 1800s-era home on The Hill's tightly held The Terrace has sold and broken a street record in the process.
The five-bedroom Victorian Italiante mansion at 38 The Terrace (known as St Aubyns) sold on the weekend for an undisclosed sum that is believed to have exceeded the previous street record of $4,080,000 paid for 20 The Terrace in 2021.
Selling agents Natalie Tonks and Dale Slater from PRD Presence were unable to comment on the sale.
The landmark property attracted interest from buyers locally, nationally and overseas.
St Aubyns is one of about 20 homes facing the Pacific Ocean along The Terrace and has only had three owners in 50 years.
The row of Victorian Italianate and Rustic Gothic homes was constructed for wealthy Novocastrians in the 1880s, and has retained much of its character 140 years later.
The home at 38 The Terrace is believed to be one of the first homes built on the street.
According to CoreLogic, this is the eighth sale recorded on The Terrace since 2013.
Sitting within 100 metres of Strezlecki Lookout, the Anzac Walk and King Edward Park, St Aubyns takes in formal and informal living spaces over two levels, manicured private gardens, a fishpond and a saltwater pool.
For the past decade, it was home to the Keegan family who bought the home at auction in 2012 for $2.55 million.
The house was reportedly in a "derelict" state in 2004 before the previous owner undertook a major project to reinstate the property to its former glory.
Mr Keegan told The Newcastle Herald last year that his family had taken great pride in maintaining the home since.
"We've really enjoyed our time there, it's a beautiful family home," he said.
"I'm passionate about historic homes so we like to maintain it and keep it original as part of Newcastle's heritage."
Other notable sales in The Hill include a six-bedroom acreage at 34 Brown Street which sold for $5 million in 2015 and 10 Barker Street's Jesmond House which sold to businessman Matthew Higgins for $7 million in 2008.
