Urbex Acquires Coastal Development Site in Hallett Cove for $45 Million
Urbex has purchased a prime 11.99-hectare residential site in Hallett Cove from the Roche family for over $45 million. The acquisition supports Urbex's expansion in southern Adelaide, enhancing its portfolio of over 40 projects in the region.
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Urbex has secured a significant coastal residential development site at Lot 4102 Burlington Road, Hallett Cove, for over $45 million. This site, measuring 11.99 hectares, is permit-ready for a 169-lot subdivision and is strategically located near the Adelaide desalination plant, approximately 175 meters from the coastline.
The Roche family continues to divest property assets, signaling a shift in their portfolio strategy. Urbex's recent acquisitions include a 3.71-hectare site at Sellicks Beach, aimed at developing around 65 homesites. The site at Hallett Cove represents a unique opportunity for large-scale residential development in a high-demand area, potentially addressing housing needs in Adelaide and South Australia.
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