A vacant seafront block, close to a proposed six-storey hotel and apartment complex in Victor Harbor, is expected to attract strong interest from home builders, commercial developers and investors.
The rare 849sqm allotment, at 14-15 Flinders Parade, comes with approval for four townhouses but could be reimagined as a luxury family home or mixed-used development, said Harris Real Estate South Coast selling agent Mark Forde.
Near to the planned Anchorage Hotel redevelopment, the allotment was one of the last remaining vacant waterfront blocks in Victor Harbor and would likely be snapped up quickly, Mr Forde said.
He said work on the hotel and apartment complex, which will sit alongside the historic Anchorage Hotel, could start as early as next year, ramping up tourism and boosting revenue for local business.
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The four-lot block is one of the last remaining waterfront development sites in Victor Harbor.
The site is only a short walk from the renowned Granite Island Causeway.
“I wouldn’t say (14-15 Flinders Parade) is the only (vacant) block but there’s very few of them and … once they’re gone, they’re gone,’’ Mr Forde said.
“Once that (hotel redevelopment) happens that whole precinct will be a game changer for Victor Harbor and this (allotment) offers the opportunity for someone to come in and do something really special.’’
The allotment comprises four Torrens titles, which can be purchased separately from $525,000 or as a whole for an undisclosed sum.
The owners – father and son developers – had long-held plans to build four townhouses but the father was now unable to proceed and the son preferred to focus on commercial developments nearer to the Adelaide CBD, Mr Forde said.
Two front titles are approved for three-storey, three-bedroom townhouses. The rear titles, which retain sea views due to a central access way, have approval for two-storey, three- bedroom townhouses.
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A concept images of a series of townhouses proposed for 14-15 Flinders Parade, Victor Harbor.
Granite Island Causeway in Victor Harbor. Picture: Supplied by Australian Institute of Landscape Architects SA
The property has mixed-use zoning, which also allows for multistorey development with ground floor retail, cafe, restaurant or consulting and office space and residential or tourist accommodation above.
Mr Forde said early interest was mostly from buyers seeking to purchase one or two titles only and build a townhouse on each, as was originally planned.
“If it sells as a whole, the attraction is you can do whatever you like – you can do one house on it, you can build four of them on it, you can do commercial. The options are really all there,’’ he said.
“But once one or two blocks (titles) get sold then the die is cast (and the opportunity for larger-scale development across the entire site is lost).
“It’s a very pretty spot, right on Flinders Parade, overlooking the Soldiers Memorial Gardens and the ocean. You’re right in the heart of Victor Harbor so it’s a short walk to the Causeway and you are near to the Anchorage (Hotel) and the main street.
“The other beauty of these allotments (titles) is they are actually northeast facing with sea views, which on the South Coast is fairly rare.’’
Victor Harbor has been earmarked for significant residential development under the Greater Adelaide Regional Plan, with the South Australian Government recently announcing its intention to axe urban growth boundaries to open up land in the area.
– By Lauren Ahwan
