Developer Kingsley Properties buy Hindmarsh Valley site for $23.1m for housing estate near McCracken Country Club

A large housing development is being planned on land next to a Fleurieu country club, after it was bought for $23m by an interstate developer.

The land on the corner of Victor Harbor and Welch roads in Hindmarsh Valley. Picture: Supplied by JLL

Former Stockland executive Kingsley Andrew has splashed out $23.1m on a residential development site near Victor Harbor.

The Brisbane-based developer is finalising a masterplan for the 65ha Hindmarsh Valley site, located on the main road into Victor Harbor, just north of the McCracken Country Club and a little more than an hour’s drive south of Adelaide.

Mr Andrew, who acquired the site from Adelaide building company Hickinbotham, said the mixed-use development would deliver much-needed housing for the region.

“I grew up and studied in South Australia before moving to Perth and Brisbane with Stockland, but believe now is the perfect time to invest in South Australia,” he said.

“We’re currently finalising a masterplan for the site ahead of community consultation starting next month, and hope that through this project we can support the growth of the Victor Harbor community.”

Kingsley Andrew during his time at Stockland.

Mr Andrew, who left Adelaide in the 1990s, spent 17 years at Stockland, heading up its Halcyon Communities over-50s living division before his departure last year.

He has since launched his own development venture, Kingsley Properties, with several projects planned, including a land lease development in Yarrawonga, northeast of Shepparton near the border between Victoria and NSW.

The Hindmarsh Valley sale was brokered by JLL’s Simon Hilmgard, Ben Parkinson and Roger Klem.

Mr Hilmgard said the site attracted more than 80 inquiries and interest from local, interstate and international developers.

“The deal reflects the strong interest in the South Australian market that is currently experiencing historically low residential vacancy rates and a shortage of land for subdivision,” he said.

“This region is becoming one SA’s most sought-after districts as an increasing number of South Australians are drawn to the appeal of being within proximity of McLaren Vale wine region, the picturesque Encounter Bay and some of Australia’s best surf beaches along the

South Coast.”

Mr Andrew’s plans for the Hindmarsh Valley site add to a growing pipeline of housing, commercial and leisure developments planned in and around Victor Harbor, which is one of South Australia’s most popular tourist destinations.

In May, local developer Civecon Developments unveiled plans for a $250m housing development at Encounter Bay, featuring more than 300 traditional house-and-land packages and “bespoke hilltop villas”, as well as bike and pedestrian paths, reserves and a retail and commercial precinct across a total of 35ha of land.

Meanwhile, regional accommodation operator G’day Group is working on a $22m redevelopment of the McCracken Country Club, with plans to create a “Florida-style golf resort” featuring a landmark restaurant, water park, caravan sites and on-site accommodation.