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Historic The Hill home has unique price tag

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First known as Church Hill, then Prospect Hill, Newcastle’s historic dress circle suburb, now simply called The Hill, is once again making real estate news.

As one of the city’s earliest settled areas The Hill is home to a plethora of heritage-listed properties such as Christ Church Cathedral, Jesmond House, Shepherds Hill and the Obelisk.

In a fortnight the sought-after suburb is expected to make history once again by fetching a record sale price for one of its prestigious properties.

Dating back to the 1880s and sitting high up on the suburb’s coastal fringe is 38 The Terrace, a four-bedroom, 3.5-bathroom property on a street once home to some of the city’s wealthiest residents.

Boasting enviable views of King Edward Park, Newcastle Beach and Newcastle Ocean Baths, this blue-ribbon beauty is still shrouded in mystery, says PRD agent Dale Slater.

“We know about the hospital next door and the Hazeldean and Benwell further down the street, and Stewart Keightley’s home a couple of doors down, but we know little about the history of this property,” he said.

What is known is its grandeur, with 12ft ceilings, marble fireplaces and timeless timber throughout its grand formal living and dining spaces, the Victorian Italianate mansion known as St Aubyns, does not hide its historic past.

In fact, it has learned to embrace it, and a 2006 cosmetic renovation has helped enhance the old girls’ best features.

Maintaining its dual access from High Street into a triple car garage, as well as the versatility of a loft space with ensuite above the garage, a guest suite, French parterre gardens and fishpond, formal reception rooms, a French Provincial style kitchen and travertine paved terrace.

A protected saltwater pool extending the length of the dining and entertaining options outdoors creates the perfect setting for cocktail parties, long lunches, and family celebrations.

So, what about the price?

Well, the median price for a unit in the historic suburb is $630,000.

Homes on the same street have fetched anywhere between $2 million and $7 million.

And where does Mr Slater see this property’s price range?

“Well, we’re going to leave that to the buyer,” he says.

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