Norwood development site sold for $2.44 million

A Norwood offering sold for $2.44 million, making it one of the Adelaide suburb's most expensive recent auction sales.

The property at 25 William Street is 1560 square metres with development potential.

With two street frontages, it features a north aspect to rear measuring 24 metres x 64 metres with principal frontage to William Street and rear frontage to Threlfall Avenue.

Currently, it is occupied with five one bedroom units in neat condition with carports included.

It was marketed as an opportunity to develop a prestige home or multiple redevelopment options.

The Parade and public transport are a short walk, while the city is 10 minutes away.

The property was offered through Harris Real Estate agents Nick Baranikow and Kathryn Roberts.