Proximity to the city, affordable housing options and the ease of a “lock up and leave” lifestyle is encouraging young professionals and older couples to find a new home in Bowden.

More than 300 apartments and terraces have so far been sold at 16.4ha former Clipsal site off Park Tce.

Renewal SA Bowden project director Alicia Davidge said the inner-suburban development appealed to buyers seeking a low maintenance home.

“There has been a mix of first home buyers, investors and people seeing the benefits of downsizing from big homes and gardens to ‘lock up and leave’ living,” Ms Davidge said.

“Bowden is SA’s first higher density urban infill site of this scale and includes housing, commercial, retail, as well as tree-lined streets and housing designs that are making people think twice about how they live and focus on environmental sustainability.”

The $1 billion project will include more than 2,400 homes for approximately 3,500 people by 2025.

Work this year will include $14 million to complete stage two construction from Fourth St to Second St and Park Tce to Gibson St.

Offerings include premium homes in Investec’s B Apartments and The Bowery by developers Hindmarsh Australia.

Ms Davidge said a further three residential and mixed-use projects would go to market in the next six months, with an average price point low of $400,000 for a two-bedroom apartment.

Work will also start this year to transform the Plant 4 warehouse into a retail precinct and build a new skate park, basketball and tennis courts and community garden on the Park Lands on Park Tce.

Ms Davidge said most buyers previously lived within 5km of Bowden, although “strong sales” had been achieved from as far Victor Harbor and Roxby Downs.

First home buyer Chloe Mason will this month move into her $300,000 one-bedroom apartment at Gibson & 7th development.

The 23-year-old said the opportunity to live a bustling “city lifestyle” from the quiet comforts of suburbia pushed her to leave her Adelaide Hills roots and move to the inner-west.

“Eating and drinking out are a big part of life, and living in Bowden I’m within walking distance of places like The Gov, The Entertainment Centre and Hawker Street Café,” Ms Mason.

“I never thought I would be able to buy a home at my age — so I am really stoked.”

Apartments in Bowden

High life on the rise

Emmett – Merchant

Sold
Price: $412,500 – $560,000
Product mix: 36 x 1, 2 & 3 bedroom apartments
Development value: $15.5 million
Under construction

Gibson & 7th

Sold
Price: $305,000-$445,000
Product mix: 24 x 1 & 2 bedroom apartments
Development value: $14 million
Complete (residents are about to move in)

Luminaire

Sold
Price: $295,000 – $445,000
Product mix: 84 x 1 & 2 bedroom apartments
Development value: $35 million
Stage one: Complete
Stage two: Under construction

B Apartments

Now Selling
Price: $280,000 – $455,000
Product mix: 86 x 1 & 2 bedroom apartments
Development value: $34 million

The Bowery

Now Selling
Price: $320,000 – $552,000
Product mix: 54 x 1, 2 & 3 bedroom apartments
Development value: $22.5 million
Construction about to commence

Author: Dan Jervis-Bardy

(Article attribution to: ‘Adelaide Advertiser, Sourced on 05 September 2015, Real Estate Section’)