Re-development opportunity for sale in Adelaide

14 March 2023

A rezoned site in Albert Park has been listed for sale, offering the opportunity to re-develop into Adelaide’s resilient residential market.

24-30 Murray Street consists of 1.6ha of land across 14 existing allotments and five certificate of titles. It has been rezoned to Housing Diversity Neighborhood allowing for a wide range of medium density residential opportunities.

The site has easy access to Port Road, is within walking distance to Albert Park train station, and a five-minute drive to the West Lakes retail precinct.

CBRE’s Anthony De Palma and Harry Einarson are managing the sale via an Expression of Interest Campaign closing March 30 2023.

“The zoning change positively impacts the value and will attract a series of residential and mixed-use developers,” Mr De Palma said.

“With no stamp duty applicable to the sale price and existing short-term holding income, the opportunity allows developers to stage their development and plans with this site whilst having minimal holding costs.”

Mr Einarson added, “With minimal opportunities currently available on the market and a shortage of residential properties for sale or rent, Albert Park is a great opportunity to provide a solution to developers and end users for the inner west precinct.”