Chinese company Shanghai Ceyuan Investment Management Centre and a Melbourne-based Chinese-born man, Bill Dongbiao Zheng, have bought a 206-hectare development site in Victoria’s Sunbury.
Sources have said the site, at 725 Sunbury Road, was bought for about $40 million and have touted it as the biggest residential sub-division site bought by Chinese buyers.
The site was sold by the Carmody family, through Melbourne-based company Sunbury Hills, late last month.
The site, 37 kilometres from the CBD, is part of the South Sunbury Precinct plan which in turn forms the larger Sunbury and Diggers Rest master plan.
The Metropolitan Planning Authority is preparing a precinct structure plan, in consultation with the City of Hume, to guide development of a new community in Sunbury South,’’ Metropolitan Planning Authority acting chief executive Steve Dunn said.