Coal baron Peter Freyberg pays Avoca record

Coal baron Peter Freyberg and wife Kylie have spent $4.6 million in North Avoca, the biggest sale the Central Coast beachside location has seen.

The North Avoca Parade beach house sale through Ray White Terrigal agent Shaun Hudson-Smith pipped the previous $4.55 million suburb record set in 2006 then shared in 2008.

Peter, a former Xstrata coal chief executive, spent $12,365,000 last year on the Eliza penthouse on Hyde Park.

The 420 sqm penthouse spanning two floors has four bedrooms, five bathrooms and a rooftop swimming pool.

This article first appeared in the Daily Telegraph.