From the Advertiser:
It's millionaire's row - in the Port
RHIANNON HOYLE, REAL ESTATE EDITOR
September 06, 2006 12:15am
Article from: The Advertiser
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IT TOOK just nine hours for 30 yet-to-be-built million-dollar homes to sell in a spectacular start to the Marina Cove development at Port Adelaide.
In the second stage of the $1.5 billion Newport Quays redevelopment, $45 million worth of residences were sold on Monday and a further $10 million was committed in the first hour yesterday.
That included $1.5 million for a penthouse in one of the apartment buildings.
More than 4000 potential purchasers had registered to buy one of the 236 waterside residences and Newport Quays spokesman Todd Brown said he was thrilled with the quick sales.
"It has been a phenomenal start to the sales, even when compared to the release of Edgewater (stage one)," he said. "We have had huge interest from baby boomers, entrepreneurs and other professionals, with the majority of buyers coming from the metropolitan area."
The joint venture between Urban Construct and the Multiplex Group will include 23 harbour homes, 12 marina villas, 29 park terraces and 172 one, two and three-bedroom apartments.
Builder Manuel Pipinias had been keen on making a property purchase at Port Adelaide since the development was announced more than a year ago.
He initially planned to buy with his wife, Anne, in Stage 1 but, having missed out, now has bought a $1.3 million harbour home and marina berth in Marina Cove.
"The development itself looks great," he said.
"I think it is the exact thing that is needed to revitalise the Port."
Construction of the first stage, released a year ago, is well under way, with new residents to move in mid next year.
The construction of Marina Cove will commence in April 2007. It is expected to be completed in March, 2009.
Another keen buyer in the release was Adelaide property identity Anthony Toop, who purchased a three-storey, three-bedroom harbour home with marina berth.
"To have leaders from within the real estate industry, such as Anthony Toop, recognising the value at Newport Quays tells you something about the huge investor confidence we are seeing in Port Adelaide," Mr Brown said.
Mr Toop said he had long had his eye on property in the harbour suburb.
"Ever since I can remember, people have been talking about Port Adelaide and, to me I think this is a major catalyst to get the area going," he said.
Real Estate Institute of SA president Mark Sanderson said the result proved the strength of the current market, particularly in the top end.
ONH: [Port Adelaide] Newport Quays | $1.2b
The current Edgewater development is between Causeway Road and the Port River, south side of the Jervios Bridge (Hart Street). Just behind Ethelton train station.
Stage 2 (Marina Cove) will be on the north side of the bridge. More towards Glanville station.
Seel http://www.newportquays.com.au/master_plan.html for the master plan.
Stage 2 (Marina Cove) will be on the north side of the bridge. More towards Glanville station.
Seel http://www.newportquays.com.au/master_plan.html for the master plan.
To answer both, I don't know but I hope they do. The stations are typical Adelaide stations (ie pathetic), and all of the north west is covered in power lines like that. Arguably the ugliest part of Adelaide.Ho Really wrote:AtD, what do you reckon, aren't those high voltage wires annoying? I wonder if there are plans to underground them.
Also what are the plans for Glanville and Ethelton railway stations, are they going to upgrade them? Hope so.
Cheers
Tussle over new development
KEVIN NAUGHTON
October 08, 2006 12:15am
ADELAIDE'S newest "suburb" has an image problem.
Newport Quays, the three-stage redevelopment at Port Adelaide, is stuck with the less glamorous suburb names of Ethelton, Glanville and Birkenhead despite the efforts of developers Urban Construct to have a more marketable name.
The company had applied late last year to have a new suburb of Newport Quays declared by the Geographic Names Advisory Committee (GNAC), but Port Adelaide Enfield Council has opposed the change.
"We've been told the council viewed the development as an enclave and preferred it to remain part of the Port," Newport Quays spokesman Todd Brown said.
"But we've worked very hard to make the Quays development open and accessible to all, including the parks, play areas and waterfront."
But he admitted the development would be different to its surrounding suburbs.
"It's a separate style, separate type of structure and style and so it should have a different suburban name," he said.
"That style adds to dollar values for property owners.
"There's no doubt a suburb's name reflects its value.
"People have bought into this new suburb and now they're saddled with the old name."
The council decided during the week to retain existing suburb names and extend the Glanville boundary – which could include Birkenhead – to take in stage three of the development.
Newport Quays stage one will be in Ethelton and stage two in Glanville.
Land title property sales data from the past 12 months shows the average prices in the three suburbs are all below the minimum prices for Newport Quays properties advertised as "from $299,900".
Council's position will now be considered by the GNAC which will make a recommendation via the Surveyor-General to the minister responsible, Michael Wright.
A committee spokeswoman, Christina Papapavlou, said that so far the only proposal up for consideration was that of the council.
"It is a request from council to extend the suburb of Glanville to include a portion of Birkenhead and make some other minor changes along their council boundary affecting small areas of Ethelton and Semaphore Park," she said.
Mr Brown said Urban Construct was "working through it and trying to appease everyone".
Mr Wright's office said the minister would not be making any comment until he had received a full briefing from the Surveyor-General.
KEVIN NAUGHTON
October 08, 2006 12:15am
ADELAIDE'S newest "suburb" has an image problem.
Newport Quays, the three-stage redevelopment at Port Adelaide, is stuck with the less glamorous suburb names of Ethelton, Glanville and Birkenhead despite the efforts of developers Urban Construct to have a more marketable name.
The company had applied late last year to have a new suburb of Newport Quays declared by the Geographic Names Advisory Committee (GNAC), but Port Adelaide Enfield Council has opposed the change.
"We've been told the council viewed the development as an enclave and preferred it to remain part of the Port," Newport Quays spokesman Todd Brown said.
"But we've worked very hard to make the Quays development open and accessible to all, including the parks, play areas and waterfront."
But he admitted the development would be different to its surrounding suburbs.
"It's a separate style, separate type of structure and style and so it should have a different suburban name," he said.
"That style adds to dollar values for property owners.
"There's no doubt a suburb's name reflects its value.
"People have bought into this new suburb and now they're saddled with the old name."
The council decided during the week to retain existing suburb names and extend the Glanville boundary – which could include Birkenhead – to take in stage three of the development.
Newport Quays stage one will be in Ethelton and stage two in Glanville.
Land title property sales data from the past 12 months shows the average prices in the three suburbs are all below the minimum prices for Newport Quays properties advertised as "from $299,900".
Council's position will now be considered by the GNAC which will make a recommendation via the Surveyor-General to the minister responsible, Michael Wright.
A committee spokeswoman, Christina Papapavlou, said that so far the only proposal up for consideration was that of the council.
"It is a request from council to extend the suburb of Glanville to include a portion of Birkenhead and make some other minor changes along their council boundary affecting small areas of Ethelton and Semaphore Park," she said.
Mr Brown said Urban Construct was "working through it and trying to appease everyone".
Mr Wright's office said the minister would not be making any comment until he had received a full briefing from the Surveyor-General.
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gregrogers257
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Suburbs wont change names
This is a strange move by the council. I am sure the developers are really annoyed about this... The suburbs there around the port dont havecrawf wrote:Tussle over new development
KEVIN NAUGHTON
October 08, 2006 12:15am
ADELAIDE'S newest "suburb" has an image problem.
Newport Quays, the three-stage redevelopment at Port Adelaide, is stuck with the less glamorous suburb names of Ethelton, Glanville and Birkenhead despite the efforts of developers Urban Construct to have a more marketable name.
The company had applied late last year to have a new suburb of Newport Quays declared by the Geographic Names Advisory Committee (GNAC), but Port Adelaide Enfield Council has opposed the change.
"We've been told the council viewed the development as an enclave and preferred it to remain part of the Port," Newport Quays spokesman Todd Brown said.
"But we've worked very hard to make the Quays development open and accessible to all, including the parks, play areas and waterfront."
But he admitted the development would be different to its surrounding suburbs.
"It's a separate style, separate type of structure and style and so it should have a different suburban name," he said.
"That style adds to dollar values for property owners.
"There's no doubt a suburb's name reflects its value.
"People have bought into this new suburb and now they're saddled with the old name."
The council decided during the week to retain existing suburb names and extend the Glanville boundary – which could include Birkenhead – to take in stage three of the development.
Newport Quays stage one will be in Ethelton and stage two in Glanville.
Land title property sales data from the past 12 months shows the average prices in the three suburbs are all below the minimum prices for Newport Quays properties advertised as "from $299,900".
Council's position will now be considered by the GNAC which will make a recommendation via the Surveyor-General to the minister responsible, Michael Wright.
A committee spokeswoman, Christina Papapavlou, said that so far the only proposal up for consideration was that of the council.
"It is a request from council to extend the suburb of Glanville to include a portion of Birkenhead and make some other minor changes along their council boundary affecting small areas of Ethelton and Semaphore Park," she said.
Mr Brown said Urban Construct was "working through it and trying to appease everyone".
Mr Wright's office said the minister would not be making any comment until he had received a full briefing from the Surveyor-General.
a great reputation. Why wouldn't the council want to change the names ???
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