Chinese developer spends $6.2m on Sunbury housing plot

The city view from the elevated Sunbury site.

A Chinese builder has spent $6.22 million on a farm in Melbourne’s north west Sunbury.

The 7.28 hectare property, 60 Redstone Hill Road, was offered with a plan for a 103 (large) lot subdivision.

Only 5.1ha is developable.

It is beside Villawood’s Redstone housing estate, which is master-planned with 2000 dwellings.

In coming years, two train stations and nine schools are set to be constructed in Sunbury and in suburbs north of it affected by the Lancefield Road Precinct Structure Plan (story continues below).

Savills Benson Zhou, Julian Heatherich and Mark Stafford with Colliers International’s Leon Ma and Michael Gardiner marketed 60 Redstone Hill Rd.

Mr Zhou said the site sold during Melbourne’s stage four lockdown, within a week of negotiations.

The rate per square metre of (developable) land is $1227.

Sunbury is about 40 kilometres from the city.

Villawood’s master-planned Redstone village surrounds the farm which has just sold for $6.2 million.

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Marc Pallisco

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

Marc Pallisco