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34 South Esplanade, Glenelg South. Pic: realestate.com.au
A beachfront mega-mansion in one of Adelaide’s most popular coastal suburbs has been snapped up in a jaw-dropping deal a month after hitting the market.
The Glenelg South home at 34 South Esplanade, which was listed for sale on January 6, fetched $5.1 million.
Property records show it is the highest price paid for a house in the beachside suburb.
The previous record holder was the house at 45A South Esplanade, which sold for $3.5 million in December last year.
Allan Real Estate director Brad Allan, who sold the property with Zoe Murray, said the buyer was a local resident.
34 South Esplanade, Glenelg South. Pic: realestate.com.au
34 South Esplanade, Glenelg South. Pic: realestate.com.au
“It’s an SA businessman who bought it, they’re going to be moving into it,” he said.
“The sellers are relocating interstate.
“We did have quite a lot of interest – we had local interest and quite a lot of buyers from NSW who inquired.”
He said expats living overseas, including Hong Kong and Singapore, had also showed interest in the property.
“The location was the biggest drawcard,” Mr Allan said.
“It did have a bit of a uniqueness in that it does have a two-bedroom apartment as part of it.”
34 South Esplanade, Glenelg South. Pic: realestate.com.au
34 South Esplanade, Glenelg South. Pic: realestate.com.au
The modern mansion, which was built in 2010 by Samuel James Homes, is on a sprawling 753sqm block with 26m of esplanade frontage.
It has five bedrooms, four bathrooms plus a powder room, two double garages, multiple living areas and two kitchens plus a kitchenette.
A cellar, home theatre, several decks and balconies with ocean views and a lift servicing all three levels are among its standout features.
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CoreLogic records show the property last sold in 1994 for $535,000.
34 South Esplanade, Glenelg South. Pic: realestate.com.au
34 South Esplanade, Glenelg South. Pic: realestate.com.au
According to latest realestate.com.au data, Glenelg South’s median house price is $1.285 million.
Real estate agents have reported demand for property across Adelaide has outstripped supply for months – Mr Allan said that was also the case at the higher end of the market.
“It’s really surprised me how many people are looking at buying between $3 million to $5 million,” he said.
He believed restrictions on overseas travel were prompting people to invest in lifestyle properties.