Marlborough House at 49 Church Street, The Hill is believed to have been built circa 1865 for the shipping master of Newcastle harbour.

According to Australian Property Monitors data, the grand home was last sold in 2007 for $2.7 million. At the time that was the second-highest sale recorded for The Hill.

It has been listed for sale through Walkom Real Estate with a guide of $3.8 million.

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The landmark property was on the market late last year and early this year through a different agency before being withdrawn.

There is limited movement in Church Street, where some of the city's oldest and most prestigious properties reside, and agent Scott Walkom was expecting "strong" interest for the "classic, beautiful home".

The Victorian Italianate residence is positioned on a north-facing block 1007 square metres in size.

It has views of the city and harbour from wraparound verandahs at the front of the home. At the rear is a large entertaining area and heated swimming pool.

The home itself has grand proportions. There are formal and informal living spaces and four generous bedrooms plus a study.

There are 12-foot ceilings, French doors, marble fireplaces and cedar architraves.

Inspections are by appointment only.