Chinese buyer secures 206 hectare residential Sunbury site
Jonathan ChancellorDecember 7, 2020
The Chinese company, Shanghai Ceyuan Investment Management Center, in partnership with a Melbourne-based Bill Dongbiao Zheng have secured a 206-hectare development site in Victoria's Sunbury.
The Australian Financial Review says 725 Sunbury Road was bought for about $40 million from the Carmody family.
Set 37 kilometres from the Melbourne CBD, with Jacksons Creek frontage, its future will be determined by the Metropolitan Planning Authority which is preparing a precinct structure plan, in consultation with the City of Hume
725 Sunbury Road, which has the capacity for 1500 to 1700 lots, sold through Biggin & Scott Land through an international April tender with professional services firm, Deloitte Real Estate.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.