Victorian Treasury Department sells surplus EastLink site at Wantirna South for $2.5 million

The Victorian Department of Treasury and Finance has sold a 10,000-square-metre block in Melbourne’s outer east for $2.5 million.

The long triangular Wantirna South block sold to a local landowner after passing in at its March auction.

It was originally bought by the government to be part of the EastLink development.

As with all Crown land sales in Victoria, it is exempt from stamp duty.

The land is still road zoned but Knox City Council is expected to rezone it.

Prior to the auction, Colliers agents Ben Baines and Hamish Burgess said there had been significant interest from developers looking to build a medium density residential development.

There were 30 to 40 people at the auction, with “a couple of interested parties”, according to Baines.

The property comes with a 361-metre frontage on High Street Road and Cathies Lane and sits just next EastLink.

Baines was hoping to sell the property at a mid-$2 million price point.

“They have mentioned they are selling a bit more land, but I’m not aware if this being part of any bigger picture,” Baines says.

 

 

 

 

 

Alistair Walsh

Alistair Walsh

Deutsche Welle online reporter

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