Land Increases From $20 psm to $430 psm in Bundoora

The company that developed the luxurious Palace Versace hotels, and Australia’s tallest residential tower, Q1, on the Gold Coast, said an investor has paid $438,000 for a 1013 square metre block overlooking parkland near the Plenty Gorge.

The sale sets a land value record for blocks in Sunland’s 44.5 hectare Chancellor development, in Bundoora, which is up to the tenth of twelve marketing stages.

Sunland bought its piece of the 104-hectare former Janefield Hospital site in 2006 from MAB Corporation, which is developing the rest of the site into University Hill, a mixed use village.

MAB paid RMIT $21 million for the site in 2003, which needed to be serviced with roads and utilities.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of