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ResidentialStaff WriterTue 09 Jun 15

Chinese Plan 10,000-lot Community In Sunbury

1

A Chinese development company has purchased a 206-hectare property in Sunbury for $40 million with a view to building a new residential estate.

According to the Australian Financial Review, Shanghai Ceyuan Investment Management Centre and a Melbourne-based Chinese-born man Bill Dongbiao Zheng have snapped up the site at 725 Sunbury Road.

ALSO SEE:  Opinion: ClarkeKann – Chinese Investment In Australian Property

The Carmody family sold the land through Melbourne-based company Sunbury Hills. The sale was conducted by Biggin & Scott Land with Deloitte Real Estate.

Metropolitan Planning Authority Steve Dunn told the AFR that the Metropolitan Planning Authority was planning a precinct structure plan, in consultation with the City of Hume, to "guide development of a new community in Sunbury South".

He told the newspaper that the community was envisaged to support around 10,000 housing lots and would include a town centre, two local centres and an industrial centre to support 6,800 jobs. There would also be land set aside for schools, parks and facilities.

 

ResidentialAustraliaReal EstateSector
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"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
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Article originally posted at: https://www.theurbandeveloper.com/articles/chinese-plan-big-community-sunbury