The Esplanade is growing up, with the covers coming off an $80 million apartment development that is set to reshape the main thoroughfare of Warners Bay.
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‘Waters Edge’, on the site of the former BP service station, will feature 112 one, two and three-bedroom apartments across two buildings.
The project is still awaiting the final sign off, but the developer expects to secure DA approval from Lake Macquarie Council later this year.
The first building, spanning six storeys, will offer direct frontage to Lake Macquarie. It will be separated from a second, seven-storey building by a resort-style pool.
“Even the apartments without direct lake views will have sun-drenched balconies and an outlook over the pool deck,” agent Mark Kentwell of PRDnationwide Newcastle and Lake Macquarie said.
The builder, Canberra-based company Bloc, will employ around 1200 workers over the duration of the project.
The ground floor will feature retail and commercial space and the site will accommodate around 200 parking spaces.
Mr Kentwell said he expected the project would become the “jewel in the crown” of Warners Bay.
“Warners Bay has been such a well kept secret for so long, but thanks to the recent foreshore rejuvenation and the opening of so many great cafes and restaurants, we believe this project will attract not just local but national attention,” Mr Kentwell said.
PRD is currently taking registrations of interest. People on the waiting list will have the opportunity to see the plans, finishes and price guides as they come available.
Modest cottage fetches 700k
What does it take to buy in at the lower end of Newcastle’s trendiest inner city postcode?
$700,000, if the recent auction of 5 Bruce Street in Cooks Hill is anything to go by. The original two-bedroom cottage, on a block of just 149 square metres, sold to a young couple after spirited bidding last weekend.
“It’s in complete original condition, there are some cracks in the walls, but the buyers are prepared to spend quite a bit of money to bring it back to its former glory,” listing agent Barry Price of Ray White Newcastle Lake Macquarie said.
The home features an original fireplace, high ceilings and a courtyard. The sale has forced the relocation of the existing tenant, who had lived there since 1987. She moved in two years before the vendors purchased the home.
The six registered bidders were mainly young working professionals seeking an inner city lifestyle. Mr Price said the vendors were thrilled with the sale price.
Merlo offloads inner city pad
Prominent Newcastle real estate agent Anthony Merlo has sold his designer home in Cooks Hill for $1.7 million.
The property at 85 Bruce Street, previously featured in Domain, sold to a couple relocating from Merewether.
14 parties viewed the property on June 17 and a buyer had snapped it up within three days.
Mr Merlo was ecstatic with the result.
“We have supplied so many fantastic results for our clients, especially over the last two years, and it was very special to be on the receiving end this time,” he said.
The sale was handled by Dalton Partners agents Scott Purnell and Joanna Cook.
Mr Purnell said the result was particularly satisfying given Mr Merlo was a long standing colleague and friend of 30 years.
