5 Matthew Street, Grange SA 5022

Luxury renovated 1958 home | Heated mineral pool & 18kW solar | Small 360m² lot in coastal Grange | High 64% building coverage. This property presents a compelling case as a comprehensively renovated, high-specification family home in a prime coastal suburb, effectively maximizing a smaller-than-typical block. Its extensive suite of premium inclusions-the heated mineral pool, large solar system, ducted climate control, and architecturally designed finishes-positions it as a modern, low-maintenance offering in an area where many houses are original 1950s builds requiring significant investment. The configuration, with a flexible upstairs lounge and study nook, caters specifically to professional families seeking a turnkey lifestyle property close to quality schools and the beach. This is not a project; it is a completed product targeting buyers who value contemporary luxury and operational efficiency over land size. The decision pivots on accepting a high capital outlay for superior finishes on a constrained land parcel, trading future land-value appreciation for immediate lifestyle utility. The primary risk mechanism is the 64% site coverage, which limits expansion and garden space, a notable divergence from the suburb’s typical larger blocks and a potential constraint for some buyers. The opportunity lies in acquiring a uniquely appointed property where the cost of replicating these renovations would significantly exceed the premium asked. For a buyer whose priority is a premium, move-in-ready coastal home without renovation hassle, this property justifies its price. It should be held as a long-term primary residence to amortize the fit-out cost, not as a short-term holding or a land bank. The commercial logic is clear: pay for certainty and quality in a tight location. Recent comparable sales, though older, provide context for land value in the area. A nearby 4-bedroom house on a 716m² block sold for $783,600 in late 2019. While not directly comparable due to its larger land size and likely inferior specifications, it underscores that the current asking price reflects a substantial premium for the extensive luxury renovations and modern systems installed here. This indicates the value is in the dwelling’s quality, not the land area.