A RATHMINES property with two homes on four acres of private waterfront reserve is on the market and is tipped the break the suburb record.
Sarah Bennett from Belle Property is expecting the property at 21 Dorrington Road to fetch more than $2.5 million, which would smash the suburb record by at least $500,000.
"We are guiding over $2.5 million, so it could beat the suburb record," she said.
"It is very unique in that it is four acres of waterfront reserve."
The listing price would smash the current suburb record of $2.45 million which was set in September last year following the sale of a one-bedroom fisherman's cottage on 1796 square metres on the waterfront at 79 Fishing Point Road.
The median house value in Rathmines is $688,000, according to CoreLogic.
The agent said the listing had "gone wild" with enquiry since it went live on Friday, with interest coming in from buyers from the Newcastle region and out-of-area.
"I've had people interested in purchasing it to grow orchards and flowers," she said.
Positioned on 16,340 square metres, the expansive block is only one of the two lots on the street that can construct two dwellings.
CoreLogic records show the property was last sold in 2012 for $660,000.
Set on park-like grounds and offering direct lake access, the property accommodates two homes including a renovated three-bedroom home returning $480 per week and a recently constructed four-bedroom, two-bathroom house with an attached one-bedroom granny flat.
The home has high-end inclusions throughout, as well as an open-plan living area with a combustion fireplace and a home office.
Ms Bennett said the property offers the scope to knock down the original home and rebuild a modern residence on a cleared section of the block close to the water's edge of Lake Macquarie.
"The property can't be subdivided but you can have two dwellings on the site so you could knock that older front house down and build a mansion on the waterfront, so it is very versatile," she said.
"It also offers the possibility for equestrian with the grounds to house horses and because it's all flat, there are lots of options as to what you could do with it."
Surrounded by bushland, the property also includes a dam and a private jetty on the lake.
In addition to the dwellings, there are two boat and caravan sheds, a car hoist, an oversized dual-bay garage and a double carport on-site.
"It is perfect for someone if they are running their own business from home or need storage," the agent said.
The property is open for inspection on Wednesday, May 3 from 4.30pm to 5.30pm.
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