11 Avenue Medindie has revealed that it will break the state house price record
A Medindie home that its agent says is the “best package” for a prized suburb has hit the market and is set to surpass the country’s residential record of $13.5m.
Jamie Brown of Booth Real Estate, who has won the title of top residential property in South Africa three times, said he expects to win a fourth with the launch of 11 The Avenue, Medindie today.
“I expect this will pass that comfortably,” Mr Brown said.
“This will change the situation at the end of the market.”
Dean and Heather Kyros bought the property in May 2007 for $3.23m.
Heather and Dean Kyros at 2KW’s Winter Menu Launch 2015.
Already residents of Medindie, they were looking to renovate their home before deciding it was too small and opting to upgrade to an area they would later renovate several times, most recently with a four-year transformation by Williams Burton Leopardi throughout to make it the showstopper it is today.
“The summary was that we wanted to feel like we were staying in a luxury hotel, and I think they met that standard in every way,” said Mrs. Kyros.
![](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
11 The Avenue, Medindie. It is provided
A bright court. It is provided
Amazing pool and spa. It is provided
“When we entered the street, we were very young homeowners, and then we watched the street become smaller as those generations changed.
“Houses on The Avenue don’t sell very well because there aren’t that many of them, so it’s a special street and it’s the kind of place where people take the time to get to know their neighbors because you all know that you’re going to be very close for a long time.”
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The property, advertised without a price guide, sits on 2851sqm and has six bedrooms, eight bathrooms and parking for 10 cars, including a turntable set to work the revheads’ engines.
It offers 1214sqm of indoor and outdoor living space over its three floors and is complete with a swimming pool and spa, as well as a floodlit tennis court.
Mrs. Kyros said that the place has been hosting parties for all kinds of events over the years, mostly for their children’s friends from school, but she and her husband are now empty ears, the time has come to slow down.
Garage with turntable. It is provided
One of the most luxurious bathrooms. It is provided
A light-filled living space. It is provided
The kitchen is nothing short of spectacular. It is provided
“We’re very sad to sell, but we feel like it’s too big for us now and we’re looking to go big,” Mrs Kyros said.
The state record for a market sale is $12.5m for a mansion at 4 Victoria Ave, Unley Park in August last year, while the record for a market sale was $13.5m for Mary Kotses’ – who bought the Anglican Archdiocese’s $10m Bishops Court show at 45 Palmer Place, North Adelaide at 7 North Adelaide at Pedelaide February, 2021.
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“Once I sold Bishop’s Court, that set a new benchmark and showed the market that there was confidence there at that price point, and since then there have been eight 10 to 12 figure gains across Adelaide,” Mr Brown said.
“Bishop’s Court will now cost $16m to $17m, while Pennington Tce is probably $17m to $18m now.
“There are other buildings that deserve this and more in Adelaide, and when they go, as the Bishop’s Court did, it will set the pace and there will be more to come in the next few years.
“So it’s going to reshape the high end.”
Main corridor. It is provided
One of the bedrooms. It is provided
Outdoor living space. It is provided
Mr Brown said its location was very important.
“That top section of Medindie – that’s where they want to be, it’s the best place in Medindie,” he said.
“As for luxury goods – this is as good as it gets.
“I think it’s going to be one of those things where you say if you don’t get it now, how long will you have to wait?”
