Record sale at Lake Macquarie picked up by Sydney buyer
Staff reporterDecember 7, 2020
A palatial waterfront reserve home in Eraring in Lake Macquarie has sold for a record breaking $2.5 million.
It was picked up by a Sydney buyer who bought it after a single inspection.
The home at 53 Payten Street sits on a vast 5,285 sqm parcel with views over Lake Macquarie from every room.
The land last traded for $260,000 in 1997 before the home was built in 2000.
It spent over 450 days on the market and initially sought $3.4 million to $3.5 million when listed in March last year.
Ray White Toronto selling agent Paul Wrigley said the buyer fell in love with it on the spot.
It topped the previous Lake Macquarie record, set when a home sold for $1.85 million.
Architecturally-designed, the home has four bedrooms, three bathrooms, a sauna, wet bar, library, and an audio room.
An infinity pool and spa overlook the water.
The listing advised it has rental potential of $1,200 to $1,500 a week.