Downsizers snap up Newcastle harbourfront penthouse for $5.5 million
A luxury penthouse has achieved the highest price for an apartment on Newcastle Harbour.
The three-bedroom, three-bathroom property at 10/304 Wharf Road, Newcastle, sold after 14 days on market with Movable’s Jason Maxwell for $5.5 million.
The property was listed with a $5 million guide.
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By continuing you agree to our Terms and Privacy Policy.“In total, we had 14 solid enquiries and three offers on it,” Mr Maxwell said
“We initially advertised it without a price guide, and we were getting a lot of enquiry, but once we put it up with a price guide of $5 million, that started to qualify the buyers, and the eventual buyers were there.
“It is a stunning apartment, so it was always going to generate good interest, and the buyers and vendors were both ecstatic.”
Mr Maxwell said the property was purchased by a Newcastle-based couple looking to downsize.
CoreLogic records show the property was last sold in April 2021 for $3.55 million.
The owners spent more than $1 million renovating the penthouse, one of 12 apartments in the Breakwater building.
The complex was completed in 2002.
Updates included converting the fourth bedroom into a large walk-in robe and installing new skirting boards, wall linings, ceilings, light fittings, electric blinds, and ducted air conditioning.
Uninterrupted views across Newcastle Harbour and toward Nobbys Headland are a stand-out feature of the property.
The apartment has a wrap-around balcony and floor-to-ceiling glass windows on the northeastern corner of the building.
The total area, including the balcony, is 295 square metres.
CoreLogic records show the $5.5 million result is the highest price for an apartment on Newcastle Harbour.
“It certainly sets a record, and the sale price equated to approximately $18,600 per square metre,” he said.
Other top sales along Newcastle Harbour include a four-bedder in the Huntington building at 501/29 Honeysuckle Drive, which sold for $4.1 million in March 2024 with Anthony Merlo at Colliers Residential Newcastle.
Significant sales along the harbourside strip include a three-bedroom penthouse at 601/17 Honeysuckle Drive ($4 million, May 2024), a four-bedroom apartment in the Huntington building at 409/33 Honeysuckle Drive ($4 million, March 2023) and a four-bedroom townhome in the Lume building at 2/23 Honeysuckle Drive ($4 million, August 2024).
What does $5.5 million buy?
Apart from the harbour view, the apartment sold with Mr Maxwell featured a high-end kitchen with Miele, Neff, and Vintec appliances.
The main suite had an open-concept design, and a fourth bedroom was transformed into an oversized walk-in wardrobe as part of the renovation.
Premium finishes included flooded gum timber floors, limestone tiles, and marble and granite benchtops.
The apartment had two car parking spaces and a storage cage.
Originally published as Downsizers snap up Newcastle harbourfront penthouse for $5.5 million
