New South Wales
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MOUNT HUNTER
The renowned Sydney horse sports arena, K Ranch Arena, has been sold to Hong Kong investors for around $30 million.
It is understood that the Mount Hunter site in Sydney’s south-west, which covers 140 Ha, will remain in its original use for the foreseeable future. New owners, private company Waratah Estate Investments, is believed to have intentions of landbanking the site with no immediate plans for re-development.
The surrounding suburbs have also experienced similar purchases as developers and investors look to snap up land ear-marked by the NSW state government as future housing suburbs.
McGrath Camden's Luke Mannion handled the transaction.
LUDDENHAM
812-844 Luddenham Road, Luddenham, has recently sold for $17.75 million to a private local developer.
Located in a highlighted ‘Growth Area’ close to the Badgerys Creek Airport, the site holds potential for residential re-zoning or land-banking.
Thomas Mosca, Shaun Timbrell, Peter Vines and Jason Edge from CBRE handled the expression of interest campaign.
PUNCHBOWL
A 734sqm site at 17 Arthur Street in Punchbowl, NSW, has sold for $2.6 million to a private local developer.
The south-west Sydney site came with permit approval for 30 boutique self-contained studio apartments.
Anthony Pirrottina of Knight Frank managed the sale.
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Queensland
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MONTVILLEÂ
186 Main Street, Montville, QLD, recently reached settlement, selling to a local private buyer for $770,000.
The 764sqm of land offered the opportunity to develop and was the first time the site had been offered for sale in over 21 years.
Petro Geyl and Rene Poulos of Innov8 Property handled the sale.
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Victoria
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BLACKBURN
Local development company, Pace Development Group, recently secured 160 Whitehorse Road in Blackburn for $23.85 million.
The 8,767sqm site marks an important sale for the area, with approved plans and permits for 263 residential units across four towers and space for a commercial/retail supermarket. Strong local and international interest was received.
CBRE’s Scott Orchard, David Minty, Chao Zhang and Lewis Tong handled the expression of interest campaign. CBRE were also responsible for the sale of the same plot of land in 2015 when it sold for $18 million. The vendor chose to acquire appropriate permits before returning the site to the market.
NORTH MELBOURNE
A development approved site at 106-110 Peel Street, North Melbourne, has recently sold for $4.98 million to a Chinese buyer.
The permits allow for a seven-level mixed-use project comprising serviced apartments and retail. It is understood that the buyer is likely to develop a serviced apartment project on the site.
Savills’ Benson Zhou, Clinton Baxter and Jesse Radisich handled the sales campaign.
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