Two Gilberton mansions sell in eight-figure deals

Two whopping eight-figure sales have not only raised the bar for their suburb but they have come close to knocking Adelaide’s highest sale out of the top spot.

The Gilberton mansion at 8 Edwin Tce has smashed the suburb’s record price for a home – and become the third-most expensive residential sale in the state – with property records revealing its $11.17m sale settled in mid-September.

The sale was reported earlier in the year shortly after it was penned in March but the exact price wasn’t known at the time.

MORE: $74,500 more than last year – Adelaide home prices surge

The $11.17m sale of the Gilberton property at 8 Edwin Tce recently settled.

It is the suburb’s highest residential sale.

It eclipses Gilberton’s second-highest transaction by nearly a million dollars, the mansion at 26 James St – the $10.25m sale of which settled just six weeks earlier in early August, according to property records.

Both remain just shy of the state’s highest residential transaction, which was set by the North Adelaide property at 70 Pennington Tce that was sold by local businesswoman Mary Kotses for $13.5m in 2021.

The second highest known sale is that of 4 Victoria Ave, Unley Park, which changed hands for $12.5m in August last year.

Fox Real Estate agent Nick Pelvay said the Edwin Tce property, which he sold, has “settled in the last fortnight”.

“At the high end of the market, the settlement can often be extended,” he said.

He said they received 12 offers throughout the nine months the striking four-bedroom home was on the market, with a range of different buyers showing interest in it.

A local buyer who worked in the building industry purchased the home, Mr Pelvay said.

“A builder bought it from another builder, which is indicative of quality,” he said.

MORE: The homes tipped to transform future of Aussie housing

The $10.25m sale of the property at 26 James St, Gilberton, also settled in the past couple of months.

It is the suburb’s second highest residential sale.

“It’s the top sale for Gilberton and its one of the top sales in the inner north outside of North Adelaide.”

The neo-classical-designed home on a massive 4085sqm block was built in 2018.

It offers four bedrooms, four bathrooms, a banquet room, a study/library and a grand foyer with an ornate staircase balustrade across three lift-serviced levels.

There is also a gym, cellar, a resort-style pool, spa and a tennis court.

Meanwhile, Giordano & Partners principal Grant Giordano sold the four-bedroom, seven-bathroom mansion at 26 James St with Jacqui Illicic.

He was contacted for comment but as he was bound by a nondisclosure agreement, he was unable to discuss the matter.

Latest PropTrack data shows Gilberton’s median house price is $1,502,500, up almost 55 per cent on the same time last year.

The post Two Gilberton mansions sell in eight-figure deals appeared first on realestate.com.au.