Sale ends entrepreneurial family’s 120-year association with Lake Macquarie
Media release - 4th May, 2015
The sale of a tightly-held waterfront property at 8 Moore Street, Toronto is not only a milestone for its owner, former stockbroker and investment banker Richard Caldwell, but it also signals the end of his famous family’s connections with the Lake Macquarie region.
“There is also a private boatshed and jetty, which makes this an exciting prospect for buyers,” said Mr Mitten.
“Owners of waterfront properties need to jump through additional hoops these days to construct private boatsheds and jetties, so this is a big tick for this property.”
It’s expected that water enthusiasts from Sydney and Newcastle will be attracted to the property, according to Mr Mitten.
“Lake Macquarie is popular for water sports including sailing, boating, skiing, wind surfing and fishing, and we expect the property to fetch a very good price for the Caldwell family.”
The Frith family has been synonymous with real estate and business in the Lake Macquarie region since the late 19th century.
“Moore and Renwick Street Toronto were popular weekend haunts for Newcastle’s early industrialists – Arnott Avenue is also close by,” said Mr Caldwell, who also traces his family lineage back to Captain John Piper, an associate of Rum Rebellion conspirator John Macarthur. Sydney’s exclusive Point Piper was named after Captain Piper.
HC Frith is the son of the Thomas Charles (TC) Frith, widely acknowledged as the doyen of retailing in Lake Macquarie.
TC Frith opened his first retail store in 1897 in Station Street Waratah, and eventually expanded the business to Boolaroo, Toronto and Warners Bay. There was also a store at Teralba, which serviced the local mines.
TC Frith & Co, according to Mr Caldwell, was the biggest employer in the Lake Macquarie region by means of its network of hardware, grocery and haberdashery stores, chemists and building supplies.
Apart from his business success, TC Frith was renowned for his philanthropy.
“TC Frith was Shire President of the Lake Macquarie Council and was instrumental in the establishment of an ambulance service to support the mines, which were very dangerous in those days,” said Mr Caldwell, who is selling the Moore Street property along with his Newcastle-based orthopaedic surgeon brother Bruce and sister Mary Louise, an academic at Sydney University.
The property was most recently occupied by his late father, Mr DT Caldwell, who was Lake Macquarie City Planner for many years and a freeman of the City.
“We have been in the region for five generations, so the decision to put the property on the market wasn’t taken lightly,” said Mr Caldwell.
“However my parents both passed away in the past two years and we believe now is the time for another family to enjoy the benefits of this magnificently located home.
“Toronto is the dress circle to Lake Macquarie and we expect there will be plenty of interest in the property.”
To obtain an Expression of Interest proposal for 8 Moore Street, Toronto, contact Raine & Horne Belmont (02) 4948 5777, and to view the property, go to: raineandhorne.com.au/belmont/properties/397599.
For further media information contact:
Brett Mitten, Principal Raine & Horne Belmont on 0412 683 319
Andrew Harrington, National Communications Manager, Raine & Horne on 02 9258 5400