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Beachside bachelor pad set to fetch $3.2 million


It’s been the ultimate bachelor pad for one Lake Macquarie man for the past 30 years but now this expansive $3.2 million home in Caves Beach is looking for a fresh start. 

Reluctantly downsizing for health reasons, the current owner is hoping the four-bedroom, three-bathroom home on Driftwood Close continues to impress visitors. 

In fact the hot rod collector is leaving behind a legacy for future entertainers, including a pool table and barbecue in the sale of his beachfront home.

“Coastal living doesn’t get much better than this,” says Ray White Swansea real estate agent Mark Martin.

“There are uninterrupted views of the beach from almost every room, and when you walk out your back door you’ve got private access to the water just 250 metres away.

“It’s a stunning home.”

Located on a quiet cul-de-sac, Mr Martin says the impressive home could be seen as an enviable man cave.

“You could say that. 

“It starts from the owner’s suite upstairs, which has a corner spa, dual shower heads and access to the deck where you can take in the sensational views.

“Then there’s the pool room, a choice of different spaces in the house when it’s time to relax, and then there’s the 8-car garage with a two-car hoist on the ground floor.

“Plenty of room for all the toys.”

Mr Martin says the home has been a labour of love for its long-term owner.

“I believe it was a two-bedroom cottage when he bought it, literally a beach shack, and he’s built on to that over the years,” he told the Newcastle Weekly.

Building and/or renovating in the coastal village is a trend that is fast-gaining momentum, with Caves Beach listed as one of the fastest growing areas in the state.

Located 90 minutes from Sydney’s CBD and 45 minutes to the centre of Newcastle, the suburb has witnessed a 30.6% rise in the median house price over the past 12 months, with the median house price now $1.28 million.

The median unit price has also risen by 45.7% to $1.06 million.

And it’s not just home buyers who want a slice of the former fishing village, investors are also eyeing off the suburb once referred to as ‘The Plains’. 

In April the iconic Caves Beach Hotel sold off-market to Oscars Hotels, headed by highly regarded Sydney-based brothers Bill and Mario Gravanis. 

The sale is rumoured to have fetched $35 million.

Development is not limited to bricks and mortar either, with plans to deliver a walking and cycling trail connecting Caves Beach to Budgewoi confirmed earlier this month.

The Fernleigh Track is also set to extend through parts of the Munmorah State Conservation Area in coming years.

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