A huge parcel of Klemzig land that’s been untouched for years is set to be turned into housing following its eye-watering $6.6m sale.
A residential developer snapped up the 4770sqm property that includes four titles – two at 212A and 214 North East Rd and another two at 5 and 7 Swan Ave.
They beat out 17 other prospective buyers – mostly commercial and residential developers – who made an offer for it.
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The Klemzig land parcel at 214 North East Rd sold in a $6.6m deal.
It spans 4770sqm over four titles and is about 7km from the city.
Selling agent Bradley Foster, director of Home Real Estate, said its prime position about 7km from the city and size made it a rare and desirable property.
“It was a combination of location and the size of the landholding,” he said.
“I probably spoke with 140 to 150 people over the four-week campaign that I ran.
“We ended up with 18 formal offers in the end, which is great, and in total we did get eight offers over $6m.
“It’s a great result for the family.”
Mr Foster said the property had been owned by the same family for 70-plus years prior to its sale.
It had horses there – although not for a few years now – as well as a house but that burnt down, Mr Foster said.
It was early days with council approval yet to be sought but Mr Foster said townhouses would likely be built on the parcel.
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It’s been untouched for years but was used for horses most recently.
He said the site, which was in a neighbourhood zone under Port Adelaide Enfield Council, could fit around 20 homes on it.
While it was a rare offering, Mr Foster said land in general was a hot commodity at the moment, with many willing to pay a premium price to get their hands on it.
“If it’s developable land, the appetite for it is massive,” he said.