Adelaide family give into pressure to sell up from property developers after a neighbourhood was built around them
A scarce 1.2 hectare plot of land surrounded by growing suburban development has been put on the market after being owned by the same family for 60 years.
The huge block and the small house on it in Adelaide’s northern suburbs of Salisbury will be auctioned on Tuesday after its owners rejected offers from developers for decades.
Harris told real estate agent Tom Hector 7News the family had finally decided to put the property up for sale after their parents passed away.
Mr Hector said the owners had been approached by developers many times over the past 30 years.
“It’s a very sad and emotional sale,” Mr Hector said.
The property has a price guide between $3 million and $3.3 million.
The “truly rare” property is “ready for almost immediate development,” according to the listing real estate.com.au.
It is advertised as ‘an unparalleled residential development opportunity’.
The 1.2 hectare block, surrounded by encroaching development in Salisbury, a northern suburb of Adelaide, will be auctioned on Tuesday. The owners have rejected many offers from developers
The only buildings on the property are a small barn and this three-bedroom house built in 1955
Mr Hector said he had received a “huge amount” of interest in the listing.
“There are very few plots of land over 1000 square meters left in Adelaide’s northern corridor,” he said.
The only buildings on the property are a small barn and a three-bedroom house built in 1955.
The charming house is a kind of time capsule, with original furnishings.
The lot is located behind the Little Para Golf Course and ‘a stone’s throw’ from Hollywood Plaza and the Parabanks Shopping Center.
Mr Hector told 7News there were many options to develop the land.
“The developers should let their imaginations run wild depending on what they can do with an urban planner,” he said.
The charming house is a kind of time capsule, with original furnishings
The median home price in Salisbury is $610,000, an increase of 22 percent over the past year.
The average unit price is up 7.2 percent year-over-year and is $370,000.
A Sydney family has also defied a multi-million dollar approach from developers for their home on a 1.99 hectare block, which is also surrounded by development.
The Zammit family home is in the middle of a development in The Ponds area, near Quakers Hill in Sydney’s northwest, where hundreds of high-density detached houses have been built.
But as their neighbors gradually sold out and left over the years, the Zammits refused to sell despite bids estimated at up to $60 million.
The house is surrounded by approximately 750 meters of fencing to contain the burgeoning and ongoing construction work around them.
The owners admit that the area is no longer recognizable from the moment they first moved there 16 years ago.
“It used to be farmland dotted with little red brick houses and cottages,” mother Diane Zammit, 50, told Daily Mail Australia in 2022.