Is this Adelaide’s best value house and land estate?

Proving that quality property in a desirable location is still attainable for first homeowners, a new development 20 minutes from Adelaide’s CBD is selling freestanding homes for under $400k.

Located on the old site of the Ferryden Park Primary School, ‘Montrose Estate’ consists of 96 blocks – the majority of them free-standing and ranging from 567 square metres to smaller blocks suitable for townhouses.

Commenting on the rare release of land so close to the city, Montrose Estate selling agent, Brett Pilgrim from Ray White Adelaide said it was proving popular, with 21 of the 96 blocks already sold. Construction commenced in September and is scheduled for completion around March 2017.

“There is not much land available in Ferryden Park or anywhere this close to the city so there has been a lot of interest. Knowing that your property will be surrounded by 96 new homes is also a big drawcard,” he said.

Affordability has been attracting both first-homeowners and investors, according to Pilgrim, who said they are drawn to three-bedroom, two-bathroom freestanding homes on 140 square metres selling for $385k.

“To be that distance from the city and to be able to buy a new house and land, it’s very competitive,” Pilgrim said.

“For investors, we have had rental appraisals for those properties of between $400 and $420 a week. That is outstanding yield, far outweighing the eastern states,” he said, adding that low return elsewhere had shifted investor focus to Adelaide.

“We are getting a lot of interstate enquiries about house and land packages and this one ticks all the boxes.”

“Access to the city is excellent along South Road and Ferryden Park is nestled between two key shopping centres – Arndale Westfield and the larger Churchill Rd Shopping Precinct.”

Pilgrim also cited the nearby TAFE and popular schools such as Woodville Gardens primary, Woodville High, Challa Gardens and Whitefriars Catholic School.

Excellent access to public transport is another key attraction, with buses to the city across the road from the development which also lies adjacent to an 18-hole golf course.

“It really is a great spot. Beaches to the west, wineries to the north and yet still so close to the CBD,” Pilgrim said.

Stage 1 and 2 of Montrose Estate is selling now. Contact Brett Pilgrim from Ray White Adelaide to arrange a display home inspection: brett.pilgrim@raywhite.com | 0432 401 010