Somerton Park home back on the market after $3.7m sale falls through

Househunters who fell in love with a luxury Somerton Park home that sold for an eye-watering $3.7m at auction last year have a second chance to snap it up.

The redesigned mid-century home at 56 Walkers Rd is back on the market after its multimillion-dollar sale fell through.

Selling agent Rod Smitheram, of Ray White Glenelg, said it sold under the hammer in August for $3.7m but the foreign buyer failed to secure a visa so the sellers decided to relist it.

Given its unique design and position in one of Adelaide’s most coveted beachside suburbs, Mr Smitheram expected it to attract strong interest.

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“It’s incredibly niche, there’s really nothing on the market, or that’s been sold recently, like it,” said Mr Smitheram, who is selling the property with Adam Keane.

“It’s a lot different to most of the homes in the area too, which is part of the appeal.

“Last time we marketed the property we had over 500 groups through.

“We’ve already had good inquiries from interstate.”

The home, which was custom renovated by Broadway Building Co, is on a 1006sq m block and has five bedrooms and three bathrooms.

Its main living area at the rear of the house is its centrepiece, with a black kitchen, a towering stone feature wall and wide windows among its highlights.

Outside, a solar-heated Magna pool, sunken terrace and outdoor entertainment area are surrounded by landscaped gardens.

Mr Smitheram said it was difficult to put a price guide on the property as it was so unique and home values had changed so much over the past few years.

According to property records, the owners purchased the home for $2.4m in 2020.

He said the owners, who have moved interstate, were disappointed the latest sale fell through but understanding and hoped to sell it for a similar price.

“A $1.3m difference in two to three years of growth is exceptional,” Mr Smitheram said.

He said buyer interest would determine its value.

Latest PropTrack data shows Somerton Park’s median house price had climbed 33.3 per cent in the past three years to $1.2m.

The property will be auctioned again on June 3 at 2pm.