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Wyndham Vale retirees hit the property jackpot

A former family farm in Wyndham Vale snapped up by Frasers Property for a cool $95 million will be home to 1200 houses, a school and a town square.

The 115 hectare lot, owned by a retired couple since the 1970s, was hot property for a number of years.

‘These landholders are frequently approached by developers, people knocking on their door all the time,’ Savill’s estate agent Clinton Baxter said.

‘In this case, our client chose to put the property to the open market we received 15 separate bids from the who’s who of the Australian developer landscape.’

Mr Baxter said there was a massive demand for housing in Melbourne’s west.

‘Obviously there’s a lot of land out there, but it’s whether it’s within the urban growth boundary and whether it’s zoned for residential development, that’s where the value is.’

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