This article is from the Australian Property Journal archive
CHINESE developer Nan Xin Investment Pty Ltd has picked up a former apple orchard in Melbourne’s eastern suburb of Wantirna South for a juicy sum of around $100 million.
The 1201-1211 High Street Road property was purchased in 1922 by Arthur Scourfield Jenkins and had been held in the family since.
The property was recently rezoned for residential and commercial use and marketed with potential for medium to high density housing of up to five levels, as well as a neighbourhood shopping centre.
Initial expectations of circa-$90 million were exceeded following interest from local and offshore developers.
Savills sold the property following an expressions of interest campaign.
Australian Property Journal
