A Stanwell Tops home boasting views of the ocean, beach and escarpment is on the market, with hopes that a substantial renovation will see it set a new sale price record for the suburb.
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Set on 1044 square metres, the three-bedroom, three-bathroom home is located at 3 Southview Avenue, Stanwell Tops.
The home initially had a price guide of $5 million when listed two months ago.
However, selling agent, Julie York from Raine & Horne Helensburgh said that this had since been reduced to $4 million in order to meet the market.
If the home registers a sale of $4 million it will eclipse the current price record for Stanwell Tops, which is $3.9 million for the acreage property known as 'Wagon Wheels', set in 2016.
The current owners of 3 Southview Avenue bought the property in 2015 for $1,520,000.
However, Mrs York said the owners had spent at least $1.5 million on a complete revamp of the house.
This included installing an internal lift, as well as new floors, windows, kitchen and bathrooms.
Mrs York said the owners were selling in order to relocate interstate to be close to family.
Mrs York said the property had attracted interested parties from areas such as Byron Bay, Sydney, Kiama and the South Coast.
She said the "spectacular" views left all who visited the property "in awe", and were a major selling point for the property.
Other features of this listing included floor to ceiling glass windows and doors, open plan living with gas fireplace, high ceilings and spotted gum polished flooring, a study nook, home office, and a self-contained studio offering ocean views.
There have been only a handful or less sales annually in Stanwell Tops for the past several years.
Mrs York said the area was popular with prospective buyers from Sydney who were looking for a change of scenery and lifestyle, yet remain within a commutable distance of the city.