Why this Glenelg apartment complex could be a blessing for young SA home buyers

A 77-home apartment complex in Glenelg which is expected to be a hit with those over 50 could turn out to be a surprise Godsend for young buyers looking to enter the market.

Work has started on The Eaton – a $120m, 12-storey development at 13 Colley Tce, and it is billed as one of the suburb’s most significant developments of the past 25 years.

Developed by the Taplin Group, the complex will deliver one, two, three and four-bedroom apartments just moments from a transforming Jetty Rd.

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Taplin Real Estate sales agent Lynette McMahon, who will sell the homes when they launch next month, said she expected the interest to predominantly come from those in their 50s and beyond.

“Opportunities to move into a landmark development in Glenelg like The Eaton don’t come along very often, so we expect it to be well sought out,” Ms McMahon said.

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

The building’s proposed facade. Pic: Supplied

That could prove to be great news for those looking to enter the market, with potentially another 77 homes to hit the market across the state as Boomers sell up to move in.

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

Luxury is the dish of the day. Pic: Supplied

Relax with ocean views. Pic: Supplied

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

“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.”

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

Smooth lines make this space a winner. Pic: Supplied

Drinks on the balcony will have you hanging out for noon. 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, while the 258sqm penthouses will be priced from $3m.

Taplin Group Managing Director Andrew Taplin said the development would “create a new era in luxury living” when it is completed in early 2028.

“We wanted to create a striking, timeless streetscape that evokes pride and a sense of place in one of Adelaide’s premier beachside suburbs,” Mr Taplin said.

“Glenelg is about to enter its next chapter, and The Eaton honours the lifestyle that has made this destination so popular,” Mr Taplin said.

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