Bunnings offloads Mill Park land

Bunnings held the Bush Boulevard block as expansion space.

Bunnings has offloaded a vacant block next door to its Mill Pak store.

The 1.4 hectare tract, 18 Bush Boulevard, is understood to have sold for $7 million.

Zoned Commercial 1, it could make way for a mixed-use project; it is wedged between fast food restaurants, a childcare centre and medium density housing.

The adjacent Bunnings outlet sold for $17.5m in 2009.

The Bush Blvd block was intended as expansion space.

Mill Park deals

The Bunnings site sale comes 11 months since a developer paid $13m for the suburb’s ex-Floridia Cheese factory, with plans for c107 townhouses (story continues below).

In late 2019, the Gibson and Roche families sold a new medical centre at nearby 14D Oleander Dve for $9.045m – or 16pc over guide.

The same vendors banked more than $5m offloading seven shops on the ground level of the Olea apartment complex, three years ago.

Cadence recorded a large profit flipping a three ha Mill Park parcel, after a subdivision, for $15.25m, in May, 2019.

It paid $7.1m for the property, 20-30 Heaths Court, a year earlier.

More to come.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.