Chancellor – realestatesource https://www.realestatesource.com.au Commercial and residential property news Sun, 14 Mar 2010 16:26:52 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.2 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Chancellor – realestatesource https://www.realestatesource.com.au 32 32 Land Increases From $20 psm to $430 psm in Bundoora https://www.realestatesource.com.au/land-increases-from-20-psm-to-430-psm-in-bundoora/ Sun, 14 Mar 2010 16:26:52 +0000 http://realestatesource.com.au/wordpress/land-increases-from-20-psm-to-430-psm-in-bundoora.html IF you told a Valuer ten years ago that land values around a rundown former hospital 17 kilometers north of Melbourne could fetch $430 per square metre, they’d have probably laughed.

But that’s exactly what Queensland-based developer Sunland has been able to achieve for land at a picturesque point within the 104-hectare former Janefield Hospital site, in Bundoora – which first sold to developers seven years ago for just $20 per square metre of land.
]]> 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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