47.53 F
London
November 8, 2024
PI Global Investments
Real Estate

Stubborn Adelaide family finally gives in to developers


For nearly three decades, an Adelaide family refused to sell their massive block to developers – even as an entire housing estate was built around them. Now they’ve finally given in.

The tightly held 1.21ha property at 95-101 Winzor St, Salisbury has been listed for sale with price hopes of $3m to $3.3m and will be auctioned by Harris Real Estate later this month.

Land Services SA data shows the once popular market garden is registered to the late Carmelina Miliado who, according to selling agent Tom Hector, had owned the land holding, together with her husband, for close to 60 years.

For 30 of them, developers had been knocking on their door in the hope to secure the land for housing, but the couple refused to sell their home, even as land and house prices went up.

MORE NEWS

Home made out of garbage sells in million-dollar deal

Neighbours star lists Adelaide home

What AI thinks ‘typical’ Adelaide homes look like

Supplied Real Estate 95-101 Winzor Street, Salisbury

The 1.21ha property at 95-101 Winzor Salisbury has been owned by the same family for 60 years.


Supplied Real Estate 95-101 Winzor Street, Salisbury

For the past 30 years, developers have been trying to snag the large block to build new homes on it.


Supplied Real Estate 95-101 Winzor Street, Salisbury

Until recently, the owners refused to sell the former market garden.


It’s reminiscent of the movie The Castle in which the quirky Kerrigan family fight to keep their home from being demolished by the government, with many one-liners – including – “tell ‘em to get stuffed” having become cult Aussie sayings.

While the Kerrigans won the war against developers in the end, it’s a different story for the Miliados, according to Mr Hector.

“I’m selling it as a deceased estate. The owner’s lived in that house up until the end, which was quite recently,” he said.

“I’ve been told they’ve had developers knocking on their door for the last 30 years … but (the family didn’t sell (until now) because their mum and dad were still alive.

“It was their wish to never let that property go but the cost (to keep it) is now too high for the family. So it’s a very sad sale.”

Supplied Real Estate 95-101 Winzor Street, Salisbury

The three-bedroom home is now a deceased estate.


Supplied Real Estate 95-101 Winzor Street, Salisbury

Time has virtually stood still inside the home.


Scene from film

Scene from film “The Castle”. Picture: Roadshow


Mr Hector said the impressive landholding could be subdivided into 15 to 30 allotments, subject to council consent and developer preferences.

The original main residence, a cosy mid-century home largely untouched, could be renovated – or demolished to make room for a new one.

There’s also a large bore, meaning water supply will never be an issue.

With just under a week until the auction, Mr Hector said he expected demand for the property to heat up.

“We’ve already had an overwhelming response and already plenty of offers on the table,” he said.

“Interest has come predominantly from developers and we’ll be exhausting every avenue and are not interested in a quick sale.

“We’re hoping to get well north of that price guide but will have to wait and see what happens on auction day.”



Source link

Related posts

Research And Views Archives | Equitymaster

D.William

ACRES 2024 real estate deals surpass AED 1.4 billion

D.William

APAC Q1 office occupancy rate beats all other regions globally

D.William

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.