A luxury acreage estate in Lake Macquarie is poised to set a new benchmark for non-waterfront properties in the suburb, with expectations that it will shatter existing records.
Property Details
The five-bedroom, four-bathroom residence at 5 Centennial Parkway, Kilaben Bay, is scheduled for auction on June 4. The house sits on 5.6 acres and is being marketed by Paul Campbell and Callan O'Reilly of LJ Hooker Lake Macquarie. This marks the first time the estate has been offered to the market since its construction nearly two decades ago.
While a price guide has not been disclosed, Mr Campbell stated that the sale would "without a doubt" break records for a non-waterfront property in the suburb. "It's the sort of property that could be in Bowral," he said. "On the water in Kilaben Bay, there are sales close to $5 million, but off the water, there is nothing that comes close to this. It will reset the marketplace."
Historical Context
Sales records indicate that the land was purchased in 2005 for $640,000. According to Cotality, the current non-waterfront record in Kilaben Bay is $2.6 million, set in April last year by an eight-bedroom home on a one-acre block at 10 Wesley Close. To date, only three properties in the suburb have surpassed the $4 million mark. The suburb record is held by a waterfront home at 114 Kilaben Road at $4.76 million.
Home Features
The house boasts a 492-square-metre internal floor plan with a three-wing design on a single level. One wing houses the primary bedrooms, including a main suite, while the opposite wing comprises two-bedroom self-contained guest accommodation. Mr Campbell noted that the design is ideal for guests or multi-generational living. "There is a big central area of the main home and two wings on each side," he explained. "One wing has four bedrooms, an ensuite and a second bathroom, and the other wing is two-bedroom self-contained guest accommodation. You could have adult children live with you, or parents come to live with you. It's ideal for that because of the privacy being able to close off the guest wing."
The entry foyer leads to a large open-plan living, dining and kitchen area featuring cathedral ceilings and exposed timber trusses. The home includes walls of glass, burnished hardwood timber floors, stone benchtops in the kitchen, a walk-in pantry, and a slow-combustion fireplace in the living room. Four of the bedrooms and two living areas open to wraparound timber decks.
Outdoor Amenities
Outside, the property features an in-ground swimming pool, landscaped gardens, and a sunken fire pit area with built-in sandstone seating. Additional features include a wine cellar, a triple garage, and a home office. "There are quite a few small acreages in Kilaben Bay and five acres is fairly common, but there's not too much that are bigger than that," the agent said. "The owners bought the land and built the home approximately 19 years ago. It is very high-end."
Market Interest
Interest in the property has been strong, with 31 inspections in the first week, attracting potential buyers from the local area, the Central Coast, and Sydney. According to Cotality, the median house value in Kilaben Bay is $1.13 million.
