Large Ottoway landholding ripe for development up for grabs
12 Henry Street, Ottoway. Pic: realestate.com.au
It looks like an industrial site now but it could be your dream home or a collection of investment properties.
The Ottoway property at 12 Henry Street, which is currently the base for a concrete cutting and drilling business, will go under the hammer on March 6 as a vacant block.
It has a 1711sqm footprint and is in a residential zone about 14km to the city and roughly 6km to Semaphore.
Ray White Norwood agent Stefan Siciliano, who is selling the property with Trent Dudley, said it offered a great opportunity for developers and investors as such large blocks rarely hit the market in the area.
12 Henry Street, Ottoway. Pic: realestate.com.au
“They might pop up every a couple of years – there have been a couple of others in about five years,” he said.
“The site will be cleared for settlement.”
Mr Siciliano said the vendor, who owned other properties in Ottoway, bought it a few years ago because of the development potential it offered.
“He and his family have always been in Ottoway and it was an opportunity that came up so he bought it,” he said.
“The owner has just been running his business out of there temporarily because he lives close by.”
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Mr Siciliano said there was potential to build multiple residences or one large home on the site, subject to council approval.
Latest realestate.com.au data shows Ottoway, which is in the Port Adelaide Enfield council region, has a median house price of $368,000 and a median asking rent of $380 per week.
The median house price in the suburb has climbed 5.1 per cent in the past year, 4.2 per cent in the past three and 14.6 per cent in the past five, the data shows.