Klemzig Mega site could deliver 70 houses near Adelaide CBD – Realestate.com.au

Bidding wars arise when developable blocks come on the market, because the critical land shortage of Adelaide drives desperate buyers to pay a premium to protect valued packages.

Property experts say that country is currently a hot commodity, because it is so rare, especially in areas that are closer to the city.

A 4770m² Klemzig – ownership of more than four titles on North East RD recently sold $ 6.6 million after 18 developers had made an offer – of which eight were more than $ 6 million.

Sales agent Bradley Foster, director of Home Real Estate, said that when it sold it “if it is developable land, the hunger to it is huge”.

From two more large land locations in Klemzig, just 8 km from the city, they are expected to attract just as much attention.

More: $ 75,000 more than last year – Sa Home Value Growth Best in Nation

Combined, they include no less than 14,591m².

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The combined land ownership includes no less than 14,591m² and can be purchased as a whole or separately.

Given their zoning plans, the two properties at 24–46 Boucaut Ave and 67–75 Windsor Grove -which can be 6621m² and 7970m², respectively, are developed into a low-rise or average housing, as well as employment and community services.

JLL’s Jack O’Leary expected a wide range of buyers to show interest in the sites, which could fit more than 70 houses, depending on their size and approval of the council-that is three times more than the approximately 20 that would fit on the North East RD site.

“The size of the combined land ownership ensures a considerable residentially anchored development or alternative living sector use in a tightly retained and established area,” said Mr O’Leary, who sells the properties with Claudia Brace and Tom Love.

“The land ownership offers developers and residents the opportunity to take advantage of the handy location in relation to the CBD and Record-Lage residential-vacancy rates of 0.8 percent.

More: Shock figure this house could get in the neighboring suburb

The Klemzig property on 212a and 214 North East RD and 5 and 7 Swan Ave recently sold for more than $ 6 million.

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Houses are probably being built on the site.

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“These opportunities at locations in the city center are now considered extremely rare.”

Mr O’Leary said that the demand for large sites as this is increasing, especially in view of the first-home copper and investors is increasing hunger for new and end product.

“I have not seen this level of question before,” he said.

“The last few campaigns we have had is the question of developers.”

Mr Love said that the positions of the properties also made them particularly attractive.

“Their established neighborhood institution adds immediate value that Greenfield sites simply cannot match,” he said.

Expressions are important for the sites close on 11 September at 4 p.m.