Work has commenced on a new $16.5 million residential development in Everard Park following a successful sales campaign that reflects the growing strength of the Adelaide property market.

 

Located in the leafy inner south-western suburb, the new Third Avenue development by Arcadian Property is now almost fully sold out, with buyers snapping up 22 of the 27 homes since they were released to the market earlier this year.

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Arcadian Property Chief Executive Officer, Warwick Mittiga, said construction of Third Avenue would begin sooner than anticipated on the back of the strong sales.

 

“Having put in so much work to meticulously plan and design Third Avenue, it’s fantastic to see homebuyers embrace our vision,” he said.

 

“Due to the popularity of the project and the exceptional sales we’ve seen, we’re pleased to push the button on construction earlier than we originally planned, which is great news for purchasers and the local neighbourhood.” 

 

Designed by Studio Nine Architects, Third Avenue is located only 2km from the Adelaide CBD and ten minutes from Glenelg beach and within walking distance of Goodwood Road, King William Road and the Ashford Hospital.

 

All 27 homes within Third Avenue are either two or three-storey residences, each featuring three bedrooms, a balcony and private garden.

 

Construction of Third Avenue is expected to be completed by September next year.