For Chris Diamantis, designing and building luxury homes is more than just a profession, it’s an obsession.

So it’s no surprise that the managing director and founder of Genworth Group counted his blessings when being told he had emerged the leading buyer of a mega development site – the former Lutheran Church headquarters in North Adelaide.

The 1.9ha estate, with frontages to Ward, Jeffcott and Archer Streets and Wellington Square, recently sold in a blockbuster $50m-plus deal, with nine of the 12 encompassing allotments now owned by Mr Diamantis.

The remaining three parcels sold to buyers not wishing to be named, including a Sydney investor who purchased the State Heritage-listed Hebart Hall for more than $15m.

Genworth Group managing director Chris Diamantis at the Lutheran College site in Ward St, North Adelaide he has purchased to develop into luxury homes. Picture: Brenton Edwards

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Mr Diamantis purchased 9 of the 12 allotments that form part of the 1.9ha estate.

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The former Lutheran Church site will be turned into a residential estate, featuring a mixture of housing options.

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Mr Diamantis said his 130,000sq m acquisition would set the foundation for four major housing projects that would further cement North Adelaide as a suburb for the rich.

It means a number of existing buildings, including a residential college, existing apartments, hostel rooms and townhouses, an office building, a refectory and library, could be demolished to make room for new homes.

“We’re probably looking at four different projects in a way that will cater for a variety of demographics,” he Mr Diamantis said,

“We’ll be doing a very large private super high-end residence, as well as build-to-rent – probably two smaller towers with 25 to 30 apartments and we also might do some townhouses for downsizers, and possibly retirement living.

“So I say there would be at least 50 new homes … and we’re hoping to pitch the price point between $3.5m and $4.5m, once we established final design.”

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With the redevelopment of the site having already secured the support of the state government, Mr Diamantis said his team hoped to break ground in the first half of 2026.

This is due to vacant possession not being provided until that time.

“From there, it’ll probably be a two-year build and will greatly depend on the height of the towers we can put on that land,” he said.

“At the moment, the state government allows six but there’s recently been approval for a nine storey building in that vicinity, which tells us that we too would have the privilege to go a little higher than six storey.

“But all of that is yet to be determined and we’ll be doing that subject to carparking availability.

“The most important thing is to deliver a product that we’re known to deliver and to not disappoint the locals but it’s really been a blessing to purchase this site … the last major development we did in North Adelaide was in 1991 when we bought the old Tip Top bakery site on Gover St.”

The historic Herbert Hall will be converted into a private residence. Picture: Supplied by McGees Property

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The site is currently home to a number of existing facilities, including a library and teaching classrooms. Picture: Brenton Edwards

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Existing accommodation options could be refurbished or completely rebuild. Picture: Brenton Edwards

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James Juers of McGees Property, who managed the sale alongside sales partner Simon Lambert, said over 350 inquiries were generated over a six week campaign, with notable interest coming from developers.

“This was a once-in-a-century opportunity for the Adelaide market,” he said.

“Fittingly for an offer of this magnitude, the transaction includes a site that, once settled, will set a record for the most expensive-ever parcel of land to be used for a single dwelling in Adelaide.

“Another exciting aspect of the deal is that the purchaser of Hebart Hall is planning on converting the building to a residence – which it has never been used for in its 142-year history.”

The site has been associated with education uses since 1854 but was purchased by The United Evangelical Lutheran Church in Australia in 1922 to establish it as Immanuel College.

The college moved to Novar Gardens in 1957, and the North Adelaide site over time became the church’s main tertiary education institution, providing education and accommodation to pastors, teachers, church workers and volunteers through the Australian Lutheran College.

The Church plans to use proceeds from the sale to support its mission and ministry. It is currently searching for a new home, potentially in the Adelaide CBD or city fringe.