Developer buys Victoria's Sunbury site for $1.25 million

A Melbourne-based developer has snapped up a mixed-use Sunbury site for $1.25 million.

The sale of 1-5 Riddell Road was brokered by Fitzroys agent Dean Alexander.

The 2,640 sqm site included three titles each owned by one member of the local family that had owned the property for over 50 years.

Alexander said the corner site was sold with a mixed-use zoning and lent itself to a variety of options.

“The property received strong interest from developers looking to capitalise on the flexibility of the site and the region’s rapid population growth,” he said.

Sunbury is the birthplace of The Ashes cricket trophy and a gateway to the Sunbury Wine region, according to the www.visitvictoria.com website.