The property at Wantirna South.
Former Wantirna apple orchard sells for $98m
APR 17, 2019
China-backed housing developer Nan Xin has beaten off local competitors Stockland, Mirvac and Lendlease to snap up a prime Wantirna South development site, a former apple orchard, for about $98 million.
The 14.96-hectare landholding at 1201-1211 High Street Road, about 30 kilometres east of Melbourne’s city centre, was the largest infill development site to hit the market this year and keenly sought after by a range of residential developers.
The site sold through Savills Australia’s Nick Peden, Clinton Baxter, Jesse Radisich and Benson Zhou. Mr Baxter would not comment other than to confirm the transaction.
Title documents show Nan Xin was the purchaser. It will be the Chinese-backed developer’s second Australian project once it gets planning permits to develop the site for townhouses and apartments.
Nan Xin was behind a successful 267-unit tower in nearby Glen Waverley that rose 15 levels above 52 O’Sullivan Road. The project was opposite The Glen shopping centre where developer Jeff Xu’s Golden Age group is embarking on another 500-unit three-tower project.
The property has been owned by the Jenkins family since it was bought by Arthur Scourfield Jenkins in 1922 as an apple orchard.
Many of Melbourne’s middle-ring eastern localities such as Doncaster, Glen Waverley and Wantirna were farmed as fruit orchards before being converted into suburbs.
The Jenkins family understood the property was more valuable as a development site and had it rezoned to residential.
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