Posted: Wed Sep 06, 2006 2:10 pm
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.
It's millionaire's row - in the Port
RHIANNON HOYLE, REAL ESTATE EDITOR
September 06, 2006 12:15am
Article from: The Advertiser
Font size: + -
Send this article: Print Email
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.
