Share It was on a corner block with R2 zoning and developers know anything they build on the site will resell for a good price at the moment, Agent Sid Elias told realestate.com.au.
R2 zoning is land comprised mainly of low density housing, which allows for housing and a variety of community facilities or services such as child care centres, dwelling houses and seniors housing.
LJ Hooker Colyton/St Clair had expected a similar result to the previous Mt Druitt R2 property record set in May, but this sale smashed it by about $600,000 as 32 bidders fought it out for the hot property.
Mount-druitt
New-south-wales
Australia
Colyton
Devon
United-kingdom
Sydney
Bankstown
Mt-druitt
Sid-elias
Jerome-smith
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