Money Property Landmark Adelaide water tower to be reborn after $1.2 million sale

Landmark Adelaide water tower to be reborn after $1.2 million sale

adelaide tower
The expansive top floor of the 1880 water tower offers a 360-degree view overlooking Adelaide. Photo: Ray White
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Adelaide’s landmark seven-level 1880 water tower stood out among the weekend auctions, listed for sale by the Stibr family for the first time in four decades.

The Semaphore property, set 14 kilometres north-west of Adelaide, the water tower home is currently three bedrooms and two separate self-contained units.

The expansive top floor takes in 360-degree views over the whole of the city, beach and hills.

It sold for $1.2 million at weekend auction.

The tower was knocked down to a Sydney insurance broker, Daniel Johnson and wife Virginia, who haven’t made any firm decision on what they will do with the property.

“We want to make it the amazing place it could be,” Mr Johnson told the Advertiser. “It could be an art gallery with a restaurant. It could be accommodation.”

The historical gem lies in the heart of Semaphore. Photo: Ray White
The expansive top floor offers a 360-degree view overlooking Adelaide. Photo: Ray White
Solid stone walls and soaring ceilings give the property a “castle” feel. Photo: Ray White

Adelaide had a 65 per cent success rate across its 126 auctions, virtually unchanged from the prior weekend’s 64.1 per cent across 129 auctions, and pretty much the same as this time last year.

But with the weakening in Sydney and to a lesser extent in Melbourne, Adelaide’s weekend success rate sat third among the capitals, behind Canberra’s 72.9 per cent and the Victorian capital’s 71.4 per cent.

Adelaide had the nation’s cheapest sale when 29 Grenache Road, Hackham sold for $239,000.

The 1970s sandstone brick house was offered with $225,000 price guidance having last traded in 2000 at $85,000. It had been listed as a $295 a week rental earlier this year.

In Canberra, 125 auctions were held with prices ranging from $348,000 at Bruce to $1.73 million at Red Hill.

The low-rise two-bedroom Bruce apartment was set in The Hub complex.

The Red Hill sale was a four-bedroom renovated cottage on 1155 square metres at 246 La Perouse Street that had traded at $985,000 in original 1960s condition.

The beautiful timber flooring continues into the spacious family room. Photo: Luton
The wide front verandah lead in to the spacious lounge room. Photo: Luton

There were 2894 auctions held across the combined capital cities, returning a preliminary national clearance rate of 66.5 per cent.

Clearance rates have continued to track below 70 per cent since June, CoreLogic’s auction analyst Kevin Brogan noted.

Brisbane, with only 45.7 per cent of auctions cleared, was the weakest capital city. Its sale ranged between $295,000 at Woody Point and $1.1 million at Kedron.

The two-bedroom 1960s Woody Point offering, set 500 metres from the beach in the Redcliffe district, had sold at $200,000 in 2013.

The Kedron sale was a 2015-built five-bedroom Amelia Lee-designed home at 18 Thirteenth Avenue.

The kitchen overlooks the pool, making it easier for parents watching over young children. Photo: Ray White

Melbourne’s 71.4 per cent success rate was recorded across 1299 auctions, down from last week’s final clearance rate of 74.3 per cent across just 318 auctions.

Melbourne had the nation’s top sale when $6.4 million was paid for a Toorak offering through RT Edgar.

The likely knock-down at 22 Lansell Road had $5.5 million to $6 million pre-auction price guidance.

It last sold at $160,000 in 1979 on its 600 square metre corner block.

Sydney returned a preliminary auction clearance rate of 64.4 per cent, rising from last week’s 59.8 per cent result, while one year ago 81.4 per cent of Sydney homes taken to auction were successful.

Auction volumes decreased week-on-week, with 1089 auctions held this week, down from 1232 last week.

Sydney’s cheapest sale was a one-bedroom, one-bathroom duplex villa at Bexley when $411,000 was paid for 2/15 Caledonian Street. There had been $400,000 to $440,000 price guidance. Offered previously as a $370 a week rental, it had traded in 2013 at $305,000.

LJ Hooker agent Vesna Apoleska marketed it as “the best buy in town”.

Perth’s clearance rate of 61.9 per cent across 39 auctions was among its highest this year. Over the same week last year, the Perth clearance rate was 37.5 per cent, and 43 auctions were held.

Perth’s top notified result was $1 million at Victoria Park when a four-bedroom renovated house sold through Baston & Co.

A second alfresco living space overlooks the landscaped front yard. Photo: Baston & Co
The kitchen has touches of french provincial styling, a stone topped island bench and plenty of storage. Photo: Baston & Co
The double brick and tile character home sold for $1 million. Photo: Baston & Co

The late 1920s home had last sold at $965,000 in 2009.

“30 Mackie Street taps into the easy Western Australian way of life with seamless indoor outdoor living,” Baston & Co advised.

“It’s a healthy walk to the exciting new Perth Stadium.”

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