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JANUARY 2014 API
Waters says about 16 houses and four
units sold across 2013, with six houses
listed for sale at the time of writing.
The types of dwellings most in demand
are those that are low maintenance and
close to services, he says.
Terry Buss, chief executive officer of
West Torrens City Council, says the
suburb has been recognised in the State
Government’s Inner Metropolitan Growth
development plan amendment, which
encourages population growth around the
inner-rim suburbs of Adelaide.
“Thebarton has a mix of residential and
industrial buildings, with the residential
housing being a mix of older style,
developed, courtyard and contemporary
styles,” he says.
The suburb boasts a large number
of schools and colleges along with a
bioscience precinct, aquatic centre and
ice arena, as well as cycling and walking
paths along the River Torrens, he says.
“Accessing public transport is relatively
easy within Thebarton as several of
Adelaide’s major roads, including South
Road and Port Road border this suburb.
“A new Woolworths store and various
specialty shops are about to be built in
the area which will provide residents with
easy access to shopping.”
¿ $260 MILLION STATE INVESTMENT
Renewal SA, a State Government agency
overseeing the Bowden development
neighbouring Thebarton, will invest $260
million over a 10 to 15-year period.
Project director Chris Menz says the
body is effectively the master developer
undertaking marketing, surrounding
infrastructure upgrades and the creation
of sites for private developers.
“It’s a commitment from the State
Government and it requires an additional
$750 million from the private sector
to successfully complete the project,”
“It’s a about a billion dollar project in
total over 15 years, which for Adelaide is a
“It’s only 2400 residential homes all up
depending on how we go with densities.
“We’re two years in since launch, so we
do have another 12 or so years to go.
“The majority of residential dwellings
will be apartments with a very European
style of delivery, about four to eight
storeys. We’re not talking towers as that’s
not really appropriate for a provincial city
“The government is doing this to show
there is a quality way of doing city fringe
development. Higher density apartments
Long-time Adelaide resident Sarah
Lindblom secured a rental property in the
suburb of Bowden, literally across the road
from Thebarton, and is set to benefit from
improved infrastructure and the influx of
people to the area courtesy, in part, to the
Purchased in February 2013, her rental
property is currently bringing in $400 per
week with no fear of failing to secure a
tenant in the popular city-fringe location.
It took Sarah just six weeks from her
purchase date to find tenants for the
property. Even more impressive was the
fact she didn’t engage an agent or market
the property for rent.
“I didn’t go through an agent. I manage
the property independently and I just put a
call out on social media and it was snapped
up very quickly,” Sarah says.
“I wanted to buy here because of the
investment I saw both the council and the
government putting into the area.
“It’s a very popular area for young
professionals because of the Bowden
development. People love to visit on the
weekends and there’s a bit of a café culture
that has developed.”
She says the long-term strategic plan for
the area was also a factor that contributed
to her decision to buy here.
“The government investment, both at
a state and federal level, will see trains to
Bowden that will go into the CBD.
“There’s a little park just down the road on
Gibson that Renewal SA have just spent
$3 million on redeveloping. It’s a lovely
little space. “
Sarah is very confident about her
investment location, however the
increasing density does pose some
“The risk that I took with purchasing the
property on Gibson Street is that it may
become a thoroughfare in the future when
the development is complete and there are
more people living in the area.
“However, Renewal SA are trying to make
the street cycle-friendly so they have a large
focus on sustainable living and cycling.
“There is also a free tram at the end of
Gibson Street, so students and workers
don’t have to incur the cost of a bus ticket.
“I regularly catch the free tram to the
Adelaide central markets. It’s so convenient
and very connected.”
Sarah says the character and overall
vibe of the area is a major drawcard for
buyers and is attracting an eclectic mix
“There’s great character in the buildings.
Across the street from my cottage is a deli
that was established in 1897 and Bowden is
rich in history and culture.
“There is also a little rundown shopfront
where people have their vintage wedding
photos taken in front of my house. A lot of
artists use it as an artistic backdrop.
“Lots of artists visit and live in the area
and take inspiration from the architecture
and the history here, so there is a real sense
“And despite having so much character,
there is still opportunity in places where it
is a blank canvas. The community creates
the space here.”
The purchase on Gibson Street was
a comfortable one for Sarah due to her
knowledge of the area and the fact she
“My family has always lived in this area
and work is just a five-minute walk away, so
it was an obvious choice for me.”
The property is rented to young
professionals and she says her intention is
to keep it as an investment property for at
least three to five years.
“The plan is that I will keep renting it and
then I would eventually like to move in
when the development is all completed.
“I live in Brompton – the suburb over – so
when I do move in I will consider it a step
up. I’m looking at putting an extension
on the back. It will involve knocking down
the back lean-to and having a modern
extension with open living. It’s a small
cottage at the moment with a central
hallway and four main rooms. It’s got quite
a large backyard and it has rear laneway
access so you can off-street park.”
Name: Sarah Lindblom
Lives: Brompton (SA)
Invests: Bowden (SA)
Strategy: Buy and hold
The investment property in Gibson Street
THE STATES // SA
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