A family resisted offers for 40 years as developers built around them… now they’re walking away with a huge paycheque after finally deciding to sell

By ANTOINETTE MILIENOS FOR DAILY MAIL AUSTRALIA

Published: 02:36 BST, 21 April 2025 | Updated: 02:44 BST, 21 April 2025

A Perth family has finally sold their large parcel of land to developers for $4million after refusing offers for 40 years while an entire suburb was built around them.

The property –  set on a 2.34-hectare block at 466 Wattleup Road in Hammond Park, 27km south of Perth’s CBD – has been owned by the same couple since early 1980s.

Effective Property Solutions (EPS) said the site has finally found the right buyer after it drew national and international attention when it was put on the market in August. 

The family received eight offers from developers and settled the sale with construction firm Apex Building on Tuesday. 

EPS head of property investment Ollie Salimi said the family had listed the land for sale twice before but it was the third attempt that sealed the deal. 

‘It proved worth the wait with the price exceeding the sellers’ expectations by 20 per cent,’ Mr Salimi told 7News. 

The $4million deal is set to see the four-bedroom, two-bathroom home and semi-detached two-bedroom granny flat demolished to make way for residential development. 

Mr Salimi added the ‘very private’ homeowners were happy that their land would ‘make way for more homes’ to help meet the ever-growing demand in the area. 

The property – set on a 2.34-hectare block at 466 Wattleup Road in Hammond Park, 27km south of Perth’s CBD – has been owned by the same couple since early 1980s

Construction firm Apex Building purchased the property for $4million after out-bidding eight other offers 

‘The plan is to use the site for residential development to meet strong demand for homes in this flourishing southern Perth suburb that’s a major growth corridor,’ Mr Salimi said. 

The homeowners decided it was time to sell as their five children were now middle-aged and they could capitalise on the area’s strong property market. 

Under the City of Cockburn’s town planning scheme, the land is zoned ‘development’ under multiple residential densities and also has a local centre designation. 

The land was also zoned as ‘urban’ under the Metropolitan Region Scheme.  

The property initially covered over four hectares, but part of it was sold for $2million to allow for the extension of Hammond Road in 2022.

:
A family resisted offers for 40 years as developers built around them… now they’re walking away with a huge paycheque after finally deciding to sell

***
Read more at DailyMail.co.uk