The Eaton: $36m in luxury Glenelg apartments snapped up fast

Apartments in the luxury Glenelg apartment complex The Eaton are flying off the shelves, reflecting South Australians’ ongoing love affair with the coast.

According to selling agent Lynette McMahon, more than $36m worth of apartments in the Taplin Group’s newest development have sold within three weeks of release, including two of the four penthouse which start at $3m.

This equates to more than 30 per cent of the complex’s 77 residences, reflecting a strong demand for homes in the premium coastal suburb.

Lynette McMahon at the construction site for The Eaton in Glenelg SA. Picture: Ben Clark

Artist’s renderings of The Eaton apartment complex in Glenelg. Pic: Supplied

How the upper levels might look. Pic: Supplied

“Opportunities to purchase in a landmark Glenelg project like The Eaton are exceptionally rare,” Ms McMahon said.

“Buyers are drawn to the combination of architectural design and proximity to the Jetty Road precinct where you’ve got everything you need to shop, eat, drink and play.

“Views are often described as money-can’t-buy, but that’s no longer the case, with views from The Eaton’s apartment among some of the best anywhere on Adelaide’s coastline.”

Taplin Group Managing Director, Andrew Taplin, said the sales milestone reflects the suburbs enduring popularity.

The building’s proposed facade. Pic: Supplied

Luxury is the dish of the day. Pic: Supplied

“The response to The Eaton has been extraordinary, with purchasers recognising both the quality of the design and the rarity of securing a new apartment of this calibre in Glenelg,” he said.

“We have seen strong interest from an array of buyers, from downsizers looking for luxury, low-maintenance homes by the beach, to local buyers who want to be part of the exciting transformation underway along Jetty Rd.”

Developed by the Taplin Group, the complex will deliver one, two, three and four-bedroom apartments.

Launched last month, Ms McMahon said the property was expected to come predominantly from those aged over 50.

Relax with ocean views. Pic: Supplied

How the dining/living area might look. Pic: Supplied

The kitchen is a chef’s dream. Pic: Supplied

Smooth lines make this space a winner. Pic: Supplied

Designed by SMFA, and with construction firm Schiavello having already poured the concrete for the complex’s three-level carpark, the apartments will start at $600,000 for a single-bedroom apartment.

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Former Real Estate Institute of South Australia legislation and industry adviser Paul Edwards said last month the benefits of new apartment complexes, specifically ones targeted at older downsizers, went beyond just those buying into them.

“If they’re family homes they are selling (to get into this complex), those homes might not be within the affordability category of first-home buyers, but you would hope there would be a knock-on effect throughout the brackets wherein that might free up a home of someone looking to move up into that one and create that opportunity (for a first homebuyer to enter the market),” he said.

“We would love any measures that allowed people to downsize more easily.

“Anything that increases the housing supply, we’re supportive of, because the lack of supply is the number one driver of the affordability problem.”