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Why We Like it
Ethelton is a small suburb situated on the Le Fevre Peninsula, bounded by the Port River and the sea. It has many character/period homes in need of tender loving care, as you would expect to see in a suburb close to a port. The homes are mainly of stone construction but there are some that have walls clad with timber or iron. The houses are small in size, generally cottage style homes, and on small blocks. Despite the relative small size of the blocks of land, there is plenty of potential to subdivide and add value.
Ethelton is not well serviced by facilities such as shopping but this is all set to change. The neighbouring $2 billion dollar upgrade of the port of Adelaide, known as Newport Quays, will add thousands of new apartments and retail facilities. There is one private school in the area, Portside Christian School, which currently caters for children in Preschool to Year 10. There is a train station at the eastern end of Ethelton which provides easy access to the city centre.
Why you should buy here
– It is less than 1km to the beach
– There are many redevelopment opportunities. In most parts of Ethelton, you only need a minimum 250 square metres for each new allotment and there are no street frontage restrictions.
– With many historical properties in the area, opportunities to add value through renovating abound. This has already started to occur and will accelerate as the interest in neighbouring Newport Quays builds momentum.
– The key driver of capital growth in Ethelton is Newport Quays. This redevelopment of an old port will add great value to suburbs that surround it. Investors can “piggy back” on the vast improvement to the port and make money in areas immediately adjacent. The ripple effect from this redevelopment will help drive prices up in this suburb as it is also near the beach and full of character homes.
Areas to focus on
The closer you are to Newport Quays and the activity it will generate, the better off you will be.
Areas to avoid
The main roads of Bower Rd and Causeway Rd are best avoided.
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