A tightly-held waterfront property at 8 Moore Street, Toronto in the Lake Macquarie region of New South Wales has just been listed for sale by Raine & Horne Belmont.

Former stockbroker and investment banker Richard Caldwell, who is the Managing Director of listed solar energy firm Dyesol Limited, is selling the Lake Macquarie property originally owned by his grandfather, Harry Clement Frith. The Frith family has been synonymous with real estate and business in the Lake Macquarie region since the late 19th century. “We have been in the region for five generations, so the decision to put the property on the market wasn’t taken lightly,” said 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."

HC Frith was the son of the Thomas Charles (TC) Frith, whose network of hardware, grocery and haberdashery stores, chemists and building supplies made his company TC Frith & Co the biggest employer in the Lake Macquarie region .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. Caldwell said TC Frith was also renowned for his philanthropy, and was instrumental in the establishment of an ambulance service to support the mines.

HC Frith famously married into the Arnotts biscuit family and the Arnotts also owned a weekender in nearby Renwick Street.

Caldwell is selling the property along with his Newcastle-based orthopaedic surgeon brother Bruce and sister Mary Louise, an academic at Sydney University. Their late father, DT Caldwell, was Lake Macquarie City Planner for many years and a freeman of the City.

The four bedroom home, which is the focal point of a 779 sqm block, has sweeping views of Lake Macquarie and a private boat shed and jetty. “Owners of waterfront properties need to jump through additional hoops these days to construct private boat sheds and jetties, so this is a big tick for this property," said listing agent Brett Mitten, principal of Raine & Horne Belmont.