Affordable homes up for grabs in $31m Salisbury Park Estate

More than 40 homes – mostly affordable – are about to be built on a massive Salisbury block that was retained by its previous owners for decades before they finally gave in to developers.

The 1.12ha parcel at 95-101 Winzor St will be turned into a $31m housing development called Salisbury Park Estate with 45 allotments, 38 of which will have fixed price house and land packages.

The masterplanned community by M2 Custom Homes, which officially breaks ground today, has been designed in partnership with HomeStart finance to give first-home buyers, young families and those looking to start over a chance to own a property.

M2 Custom Homes was one of 20 developers that went head-to-head at auction in October last year to secure the rare property.

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Renders for Salisbury Park Estate, a $31m Salisbury development at 95-101 Winzor St.

The development will have mostly affordable housing.

An Adelaide family who owned the property for close to 60 years knocked back developers’ offers for almost three decades.

The cost to keep it eventually became too high, prompting the family to sell it for a whopping $5.5m – $2.2m above its price guide.

Stage one of the project will offer seven premium house and land packages priced from $750,000, and is expected to be finished in February next year.

The second stage will deliver 38 homes built in line with affordable housing guidelines, with prices starting from $675,000.

They were expected to be finished by December next year.

M2 Custom Homes founder and managing director Rob Marciano said construction on a handful of homes was already underway.

“We probably started them about four months ago,” he said.

“We’ll see people moving into those in about March – that’s a really good turn around.

“We’re very proud to be able to deliver these projects within six to nine months of buyers purchasing land.”

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The previous owners of the property had knocked developers back for nearly 30 years.

They decided to sell last year, when it was snapped up for $5.5m.

Mr Marciano said they had already sold a portion of the affordable house and land packages as well after launching them a few weeks ago.

He said they understood the need for affordable homes in the area.

“We are passionate about creating communities where people can achieve their dream of home ownership,” Mr Marciano said.

“It is a project we are incredibly proud to bring to Salisbury Park and one that we are proud to say will address the current housing shortage in South Australia.

“When we purchased the site, a lot of developers said to us after that we paid too much … but we saw the value in that site.”

The courtyard homes will be single-story and feature three bedrooms, two bathrooms, generous backyards with outdoor entertainment areas and single garages.

Each of the turnkey homes will have 7-star energy efficiency, all electric appliances, stone benchtops, timber laminate floors, ducted airconditioning and solar panels.

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