When the stunning property entered the market, listing agent Paul Campbell, of LJ Hooker Toronto, said it could set a precedence with the $4 million mark never being broken by a Lake Macquarie residence.

The home at 27 Excelsior Parade was designed over three levels and positioned on an absolute waterfront property over 1300 square metres in size. 

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The five-bedroom, five-bathroom home had a glass-door elevator, wet bar, theatre room opening to a private terrace and a fully tiled in-ground swimming pool with heated spa. It also had a boat shed, slipway and shared jetty.

domain.com.au and Australian Property Monitors data report the sale of the property on March 6 for an undisclosed sum but the Newcastle Herald believes it has set a new sale record for Lake Macquarie.

The Excelsior Parade sale was not the only big result around the lake. A Newcastle buyer bought 304 Skye Point Road in Coal Point on March 8. The absolute waterfront home of former Peach Advertising owners Paul and Carole Hannan won multiple awards when built 23 years ago.

It was marketed by Paul Avery, of Avery Property Professionals, with a guide of $2.5 million but a sale price was not disclosed. The sale came after the $2.15 million purchase of an absolute waterfront home at 54 Skye Point Road last month.

Mr Avery reported sales were going well in Toronto's Foreshore waterfront development that he is jointly marketing with Raine and Horne. A three-bedroom waterfront penthouse has sold for $2.4 million. Construction is set to start in June with 13 of 37 apartments remaining.

First National Newcastle City sold the Kevin Snell-designed home of Steve and Kim Abercrombie at 60 Dilkera Avenue in Valentine for $1.7 million on March 8.

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