Re-development opportunity for sale in Adelaide

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.

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

β€œWith 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, β€œWith 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.”

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