Former Ascot Park childcare development site returns to the market with $1.5m price – realestate.com.au

News Corp Australia Network

Knock it down, renovate or capitalise on Adelaide’s growing rental market – the choice is yours with this two-in-one deal at Ascot Park.

Set to attract a bumper crowd at auction next month, 717 and 719 Marion Rd has been listed for sale with a price guide of $1.5m – less than a year after selling to childcare developer CK Ascot Park Pty. Ltd for $1.05m, according to CoreLogic.

The sale includes two adjoining properties on separate titles and will be sold as a whole.

It also comes with pre-approval for a two-storey childcare centre.

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Selling agent David Smallacombe, of Smallacombe Mitcham, said the opportunities were endless for both developers and investors.

“There’s a lot of potential here,” he said.

“The Marion council has approved a two-storey childcare centre for this site – all the plans for it are done.

“But you could also lease out the two properties as it’s been done previously, either for commercial use or domestically.

“The property is also zoned General Neighbourhood, so there’s a range of commercial development opportunities on a valuable corner position.”

Mr Smallacombe said 717 Marion Rd had previously been leased to a local chiropractor, with the property subsequently encompassing a large reception area, two consulting rooms, a kids’ playroom, a waiting room, a kitchen and a bathroom.

It also features ducted reverse-cycle airconditioning and a 6.6kW solar system.

The second property, 719 Marion Rd, features five bedrooms, two bathrooms, a stainless steel kitchen, an open-plan living area and a lawned rear yard.

Mr Smallacombe expected plenty of competition among prospective buyers at auction.

“There are a lot of businesses on South Rd that are having their businesses compulsory acquired by the State Government,” he said.

“So some of those people who may wish to keep their businesses in the same area could potentially relocate to Marion Rd, so there’s an opportunity for them here as well.”

The property will be auctioned on June 1 at 1pm.

Ascot Park has a median house price of $635,000, according to PropTrack.