Set on 2.15 acres, 94 Burwood Road takes in five bedrooms and stunning panoramic views over Dudley Beach.

Harragon and wife Pam, whose three children are grown up, have made the decision to sell up after more than 27 years.

"We want to split our time between Newcastle and the Sunshine Coast, we will still be based in Newcastle," Harragon said.

"I will miss the privacy and exclusivity of this location, it is just so unique.

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"We turn off from the beach road and into our own sanctuary. As soon as the gate closes it is just so relaxing and really inspirational.

"It uplifts the senses and the feeling of vastness hits me every time as I lookout to the Pacific Ocean over Glenrock National Park - it is a feeling I will never forget."

The property has undergone several major renovations under the Harragons' ownership, and has recently been updated to include a chef-inspired kitchen and family bathroom.

The home also takes in an office, a massive games room with cocktail bar, an indoor spa and a gymnasium.

LJ Hooker Belmont's Josh O'Doherty, who shares the listing with PRD Newcastle's Mark Kentwell, labelled the home a "once-in-a-career" property.

Mr O'Doherty said he believed the property would outstrip the $6 million sale of a six-bedroom 6.75 hectare property in Eraring, and last year's $5 million off-market sale of 6 Bombala Street, Dudley.

"We think we're going to take the Lake's top billing, by how much - who knows?" he said.

"The Eraring sale was 2020 and the market's certainly moved a fair way since then.

"Neighbouring homes have an ocean backdrop but this property's outlook is different and completely breath-taking."

The property, which will be released to market on Thursday, was originally used as a strawberry and tomato plantation.

Harragon said the home had been the centrepiece of many celebrations and parties over nearly three decades.

"We've set up a 50-metre long slip and slide which was amazing fun, we've had horses, motor bikes, campfire nights, and made our walking tracks to the beach," Harragon said.

"It is designed for entertaining, relaxing and having family fun, there is no need to leave."

Harragon captained the Newcastle Knights to the 1997 premiership in a 10-year career that spanned 169 games, and captained Australia in a 1995 World Cup fixture against South Africa.

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