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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