Festive season comes early for owners of former Christmas tree farm
A former Christmas tree farm at Dural attracted more than 70 bids before selling for $4.921 million under the hammer.
The prime 2ha property at 833 Old Northern Rd was hotly contested by 13 registered potential buyers.
Agent Neil Keene from L.J. Hooker Dural says while the acreage has a single-level three-bedroom home, the sale was all about the land. It is zoned general rural but is just metres from Dural Business Park.
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“It is all about the location, it’s not everything, it’s the only thing,’’ Keene says.
“Close-in properties in Dural rarely come on to the market and when they do they are highly desirable.
“There weren’t too many buyers there wanting to put a house on it.’’
The land had been tightly held and is the first time on the market for many years. The pine trees at the back were part of an original Christmas tree farm.
There were 23 contracts issued in the lead up to the auction. Keene says it was difficult to price because of its future potential.
CoreLogic RP Data says two adjoining properties, which back on to each other and the Northern Rd property, have sold recently. A property at 4 Vineys Rd fetched $4.3 million in May this year and 3 Quarry Rd sold for $2.65 million in November 2015.
These properties have just been listed for sale together through Ray White Commercial NSW as a seniors Seniors and aged development site opportunity.
Under concept plans, the combined 29,898sqm site could hold 219 independent living units, 74 aged care beds and ancillary facilities.
Keene says the successful purchaser of Old Northern Rd is from the North Shore and not part of the proposed development.