Port Adelaide

[MissHoney]

Hi SS Investors,

Does anyone have any thoughts on what is happening in Port Adelaide?

I'm actually interested in warehouse conversions to residential apartments (have a penchant for this kind of inner city living, a la Fitzroy/Collingwood Vic for those familiar with Melb). Does anyone know of any developments happening at present or even pockets near the port where there might be OLD and INTERESTING buildings with resi development potential?

There's very little on realestate.com.au although now I think of it, I haven't looked under commercial properties.

MH

 

[steveadl]

Don't know any either MH, sorry.

One thing I would caution you on though, there are going to be a massive amount of apartments built there over the next few years. You'd want to have a pretty damn attractive warehouse development to convince buyers to live there as opposed to the brand new blocks with ammenities, water views, parks etc.

Not really my area of expertise, so perhaps it would work? Just keep the apartment blocks in mind.

For my money I would try to get a development block in Birkenhead, Peterhead etc.

 

[eightgrate]

Like I've said in earlier posts about the Port, its prices have already risen to factor in best case senarios. There is now a glut and a recent Adelaide Advertiser article highlights that people are losing some big bucks now as prices are coming back a bit in this area due to oversupply. This wont change for a while (5+ years) one all the stages are finished and those appartments go through their initial turnover.

The same thing happend at Glenelg, and its only just getting out of this phase and it took ages.

 

[MissHoney]

Thanks for these responses, decided to leave PA alone now.
MH