An historic 47-hectare block of land along Ballan Road in Wyndham Vale was passed in at auction last week.
More than 25 people showed up for last Friday’s auction, but only one bid of $700,000 was made on lot 5, Ballan Road, after some coaxing from Biggin & Scott auctioneer Frank Nagle.
The land, close to the Manor Lakes estate and the planned Jubilee estate, was marketed as a “set and forget land bank” because of government covenants on the site – meaning there was little any new owner could do to develop the site.
The land is earmarked to be used to develop the proposed E6 freeway, which would link Avalon and Tullamarine airports.
One of the site’s owners, Eftichia Karagiozakis, said the site was steeped in history, as it was originally owned by convict businesswoman and trader Mary Reibey, whose face is on Australia’s $20 notes.
Ms Karagiozakis, who has co-owned the land since 1988, tried unsuccessfully to sell the land privately in 2011 and said she was disappointed it had failed to sell again.
“Given that the urban growth is on the other side of the fence line, and the government has come in and put all these overlays, I’m very disappointed,” she said.
“Why did everybody turn up?”
