After more than six decades in the same family, a historic property in Salisbury, Adelaide, has finally been sold at auction for $5.5 million AUD ($3.61 million USD). The plot, which spans a large 12,000 square meters, has been in the family for generations. Over the last 30 years, the family repeatedly turned down offers to sell their land. However, following the recent passing of the family’s parents, the heirs decided to put the property up for auction.
Tom Hector from Harris Real Estate described the sale as “very sad and emotional,” acknowledging the significance of parting with a property tied to so much family history. The land is seen as highly desirable due to its prime location near a golf course, shopping centers, and other developments. Hector highlighted that properties of this size are increasingly rare in the area, making this a unique opportunity for developers.
Interest in the property was significant, with developers eyeing the large, flat land for potential new projects. The home itself consists of three bedrooms, a lounge, a kitchen, and a large garage with adjoining sheds. Hector emphasized that the family’s decision wasn’t easy but came in response to the changing circumstances and development in the area over time.
The sale is notably different from another case in Sydney, where a family refused a staggering $50 million offer for their 20,000 square-meter plot. While most of their neighbors sold out years ago, this family held onto their land, maintaining a unique stance against the rapid development in their area. Their story contrasts with the Adelaide family, who ultimately chose to pass their legacy to new owners after decades of holding out.
