A new apartment complex in Glenelg is set to reshape the housing landscape for first-time buyers in South Australia. The Eaton, a significant development valued at AUD 120 million, is under construction at 13 Colley Terrace and will feature 77 apartments across 12 storeys. This project, spearheaded by the Taplin Group, aims to cater primarily to buyers aged 50 and above but may inadvertently create opportunities for younger home seekers.
The Eaton will offer a mix of one, two, three, and four-bedroom apartments, conveniently located near the revitalizing Jetty Road. As the construction progresses, interest is anticipated to be especially high among older buyers looking for upscale living arrangements. According to Lynette McMahon, a sales agent with Taplin Real Estate, “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.”
The influx of older residents moving to The Eaton may free up existing family homes, potentially boosting availability for younger buyers entering the market. Paul Edwards, a legislation and industry adviser at the Real Estate Institute of South Australia, highlighted the significance of such developments: “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. However, that might create a knock-on effect, freeing up homes for first-time buyers.”
Construction on The Eaton is already underway, with notable progress on the three-level carpark. Designed by SMFA, the apartments are projected to start at AUD 600,000 for a one-bedroom unit, while the expansive penthouses, covering 258 square meters, will be priced from AUD 3 million. This pricing structure reflects the luxurious amenities and design that the Taplin Group aims to offer.
Andrew Taplin, Managing Director of Taplin Group, expressed optimism about the development’s impact on the area. “We wanted to create a striking, timeless streetscape that evokes pride and a sense of place in one of Adelaide’s premier beachside suburbs,” he stated. The development is expected to redefine luxury living in Glenelg and is slated for completion in early 2028.
As the Glenelg community evolves with The Eaton, the potential benefits for young homebuyers could be significant. Increased housing supply may help alleviate some of the affordability challenges currently facing first-time buyers in South Australia. With the right market dynamics, the arrival of this upscale complex could indeed serve as a blessing for a new generation of homeowners.
