Adelaide's smallest block sells for $205,000
Jonathan ChancellorJuly 25, 2011
Adelaide’s tiniest inner-city development site – at just 90 square metres – has been sold for $205,000.
Marketed as Adelaide's smallest block, the Hamilton Place holding had been hoped to fetch $240,000 plus.
Its sale price represented 2.6% annual growth since last traded in 2007 at $184,000. It reflects 4.2% growth since it sold in 2004 for $155,000, based on RP Data’s sales history.
It was sold by Phillis Real Estate Adelaide agent Jim Phillis. The buyer intends to build on the land, Phillis says.
Hamilton Place is located between Whitmore Square and South Terrace.
The official land value for the site in early 2010 was $125,000 and in 2006 at $89,000.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.
