Residential development site Glenelg North for sale by JLL's Claudia Brace and Simon Hilmgard. 1 St Annes Terrace, Glenelg North, is adjacent to the Patawalonga River in a sought after suburb.
JLL is appointed to market a prime residential development site at 1 St Annes Terrace, Glenelg North, adjacent to the Patawalonga River in a sought after suburb.
This generational property is being offered for sale for the first time in 90 years. Glenelg North is undergoing a rejuvenation with developers capitalising on the high demand for properties in close proximity to local beaches and high street amenity.
This premium allotment, boasting a frontage of more than 30 metres and area of 1,839 square metres lends itself to townhouse or apartment redevelopment, noting the Urban Neighbourhood zoning allows for development of up to five storeys.
This opportunity, located within walking distance to Glenelg Beach, Jetty Road, the Marina and the city tram, offers a rare development of scale in a prominent residential suburb.
“The property is currently improved with a single storey dwelling, however the excellent location on a regular shaped site is ideally suited for a developer to unlock the underlying land value” said JLL Executive Claudia Brace.
“As South Australian’s continue to be drawn to high amenity and seaside locations in the wake of Covid, this is an opportune time to capitalise on increasing residential house and land prices and one of the tightest rental markets in Australia on the back of unprecedented demand”, said JLL Executive Simon Hilmgard.
Expressions of Interest for the property close 14th December 2022, with inspections available by appointment with JLL.
For more information contact the agents via the contact form below.