4 Dec 2012
Bowden’s first off-the-plan sales have exceeded all expectations with nine out of 16 apartments already secured since being released to market late last month.
Housing and Urban Development Minister Patrick Conlon said the level of interest from buyers has now guaranteed that construction will go ahead.
“The one and two bedroom apartments in Bowden’s first release have been a hit with many buyers who can also benefit from the State Government’s housing construction grant reforms and stamp duty concessions,” he said.
It follows ABS figures released this week which show building approvals bucked the national trend in South Australia and rose 1.3 per cent in trend terms in October, second only to Western Australia.
It was the third successive month where total dwelling approvals rose in South Australia.
Mr Conlon said Bowden was one of the most significant urban development projects in the State’s history and will showcase the benefits of higher-density urban living.
“Most of the buyers of these apartments are owner-occupiers which I believe shows there is a real interest in medium and high-density urban living in Adelaide,” he said.
The 16 apartments on 56 Seventh Street at Bowden are being developed by Acdev.
Bowden Project Director Chris Menz said despite the strong demand, opportunity still exists to purchase an architecturally-designed and energy-efficient off-the-plan apartment in Bowden.
“You can be guaranteed a home of the highest standards as each developer is required to meet the guidelines of the Bowden Design Review Panel,” he said.
Construction of the 16 apartments will begin in early to mid-next year with the first residents expected to move in later next year.
Architecturally designed terrace and apartment homes will be available for purchase from other developers at Bowden in the near future.
More than 2,400 homes will ultimately be built in the Bowden development over 15 years for about 3,500 new residents.
Inquiries for off-the-plan sales or developer land releases should be directed to Sales Manager, Georgie Taarnby on 1800 BOWDEN (269 336) or by visiting the Bowden Information & Sales Centre on Park Terrace, which is open seven days from 10am – 4pm.