A Perth family has decided is set to sell their large parcel of land to developers after an entire suburb was built around when they refused to sell.
The property, which sits on a six-acre block on Wattleup Road, in the suburb of Hammond Park, is up for sale, and expected to attract offers over $3million.
Owned by the same family for over forty years, the site features a four-bedroom, two-bathroom brick house and a granny flat. However, it is likely to be demolished to make way for dozens of new homes.
‘Unlock the potential of this expansive 2.34-hectare development site, strategically located in the heart of Hammond Park,’ the listing on Domain reads.
‘This prime parcel of land offers unparalleled opportunities for both residential and commercial development, perfectly situated to benefit from the area’s growing demand.
‘At 2.34 hectares, 466 Wattleup Rd is a prime urban infill or mixed-use residential, retail and commercial development project in a major growth corridor.’
Ollie Salimi from Effective Property Solutions told Domain that he anticipates huge interest from developers.
‘We expect a lot of interest in this site as Hammond Park’s existing and nearly fully built-out residential land estates are in very high demand from young families, thanks to an array of schools and new public amenities in this now flourishing area.’
The property initially covered over four hectares, but part of it was sold for $2million to allow for the extension of Hammond Road in 2022.
Census data shows that Hammond Park’s population nearly doubled between 2011 and 2016, growing to just under 5,000 residents.
According to CoreLogic, median house prices have risen by 80 per cent over the past five years, while unit prices have gone up by 90 per cent.
While many n families have yielded to pressure from developers, one family in Sydney is standing firm and refusing to sell.
For decades, the intensely private Zammit family have been the proud owners of a sprawling 20,000 sqm property in Quakers Hill, in Sydney’s west.
The five-acre property slices through a massive block of the new development, abruptly turning through-roads into cul-de-sacs, with homes wedged up hard against the home’s boundary fence.
However, while all their old neighbours gradually sold up and moved out, the Zammit family has held on and refused to sell, despite being offered more than $40 million for the site.
The Zammits are a very private family and declined to discuss the offers they’ve received to move out when Daily Mail contacted them.
However, the family have admitted the land is unrecognisable from when they moved in 16 years ago.
‘It used to be farmland dotted with little red brick homes and cottages,’ mother Diane Zammit, 50, said.
‘Every home was unique, and there was so much space – but not any more. It’s just not the same.’