Neighbours band together to achieve big property sale

Three neighbours look set to share a multimillion pay cheque after joining forces to sell their Adelaide homes together.

Hoping to capitalise on their high exposure location, the trio have combined their properties at 263-267 Anzac Highway, Plympton into a single sales listing aimed at commercial investors.

While a price guide for the mega 2053sqm block has not been disclosed, one of the vendors, Sydney-based songwriter and property investor Mark Konemann, expects the selling price to be at least 10 per cent higher than if the properties were listed individually.

Mr Konemann, who owns a four-bedroom home at No. 267, said he had been seeking to purchase his neighbour’s property at No. 265 for the past five years but she only recently came on board when the third vendor also agreed to sell.

While he would have considered buying both neighbours’ properties, Mr Konemann said he recently put a deposit on an acreage in Sydney and had to concede that “I haven’t got enough funds to do it all’’.

The properties at 263 – 267 Anzac Highway, Plympton could sell well above $4m.

“There was quite some toing and froing to get (the sale) across the line,’’ said Mr Konemann, the only vendor not to live at the selling address.

“As time goes on, circumstances change and it (the sale) now obviously suits her more than it did before.

“She’s got a young girl and they will look at getting another type of property. (The owner of No. 263) has got two units there – he lives in one and rents one but, if the price is right, he would probably like to go and buy a house.

“We’ve got a minimum (selling price) in mind. I won’t say what it is because that’s exclusive to the people involved.

“But it’s not that high, really. It’s probably 10 per cent above market (value for each individual property) and we just hope that we get a few offers that are more than that.’’

Sold individually, PropTrack data suggests each strata unit at No. 263 could be worth as much as $720,000, while the three-bedroom home at No. 265 could fetch up to $1.08 million.

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The homes are located along a popular road and near major amenities.

Mr Konemann’s home, which has dual street frontage and, until recently, has been rented, could be worth up to $1.31 million, according to PropTrack.

It means all four properties have a joined value of $3.83m and could fetch as much as $4.213m if sold 10 per above market value.

The mega-sized block is zoned Urban Corridor, which allows developments up to eight- storeys high and a range of residential and commercial uses.

Selling agent Mark Patterson, of Allan Real Estate, said the site was ideal for apartment buildings, childcare facilities, fast food outlets, petrol stations, medical clinics or even a display home village.

He said interest in the site had been strong but warned anyone “thinking they would get three properties for the price of one’’ would be left disappointed.

“If that were the case, (the vendors) would sell them individually,’’ Mr Patterson said.

The sale is through an expressions of interest campaign that closes on December 9.

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