Sunbury’s Penfield Airfield for sale asking $25 million

A birds-eye view over a portion of the Penfield Airfield, which has been listed for sale asking $25 million.

An airfield in Sunbury, in north-west Melbourne, has been listed for sale asking $25 million.

The Penfield Airfield was built in 1969 by Alexander Penny – a member of Australia’s “top secret Z Special Unit” in the second World War, according to realestate.com.au, which first reported the listing.

Spreading 108 hectares at 295 Settlement Road, the property is zoned Green Wedge, preventing it from many types of redevelopment.

However an investor may consider land-banking the site, applying to change its use at a later date. The vendors paid $800,000 for the holding in 2003.

Sunbury, about 42 kilometres from the CBD, is now considered part of metropolitan Melbourne with several new residential housing estates and major commercial complexes developed in recent years.

Configured with two CASA approved runways, 50 aircraft hangars, a pilot training centre, flight simulator, control centre and communication room, 295 Settlement Road also accommodates one of the largest stock feed suppliers in the suburb.

A forest portion of the land has been used by the vendors for a successful paint ball business.

The serviced land – with water, electricity, phone, internet and gas – is being marketed by Zafar Syed of Zafar Property Group.

Marc Pallisco

A freelance property writer and experienced analyst, Marc is the co-founder of realestatesource.com.au

error: Content is protected !!