Stud sale looms

Veteran horse trainers Meagher Racing could reap up to $20 million from the sale of their Sunbury stable property Huntly Lodge, which is set to become a new residential subdivision.

By InvestSMART · 24 Jul 2013

By InvestSMART ·
24 Jul 2013

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Veteran horse trainers Meagher Racing could reap up to $20 million from the sale of their Sunbury stable property Huntly Lodge, which is set to become a new residential subdivision.

The Meaghers, who trained 1985 Melbourne Cup winner What A Nuisance, bought the sprawling 82-hectare farm more than 20 years ago for $875,000, according to land title records.

The property at 250 Lancefield Road is located across from a residential estate and has been designated for development by the Growth Areas Authority as part of the Sunbury East (1075) Priority Precinct Structure plan. It is likely that about 1000 lots could be created from the land.

Peter Vassallo of the Oliver Hume Real Estate Group said Huntly Lodge had been attracting interest from several Asian and local private developers during the campaign, which closes on Thursday.

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Frequently Asked Questions about this Article…

What is the Huntly Lodge sale and who is selling the Sunbury property?

Huntly Lodge is an 82-hectare Sunbury stable property owned by veteran trainers Meagher Racing that is being sold; the sale could see Meagher Racing reap up to $20 million.

How much could Meagher Racing get from the Huntly Lodge property sale?

According to the article, the Huntly Lodge sale could fetch up to $20 million for Meagher Racing.

What was the original purchase price and how long have the Meaghers owned the property?

Land title records show the Meaghers bought the sprawling 82-hectare farm more than 20 years ago for $875,000.

Where is Huntly Lodge located and why is its location significant for development investors?

Huntly Lodge is at 250 Lancefield Road in Sunbury, located across from a residential estate and designated for development under the Growth Areas Authority as part of the Sunbury East (1075) Priority Precinct Structure plan, making it attractive for residential subdivision.

How many residential lots could be created from the Huntly Lodge land?

The article states it is likely that about 1,000 residential lots could be created from the 82-hectare Huntly Lodge property.

Who is marketing Huntly Lodge and which buyers have shown interest?

Peter Vassallo of the Oliver Hume Real Estate Group is marketing Huntly Lodge, and the campaign has attracted interest from several Asian and local private developers.

What does the Growth Areas Authority designation mean for the Sunbury East (1075) Priority Precinct and this sale?

The Growth Areas Authority has designated the land as part of the Sunbury East (1075) Priority Precinct Structure plan, which supports its potential conversion into a residential subdivision like the one proposed for Huntly Lodge.

When does the Huntly Lodge sale campaign close and how has interest been described?

The campaign for Huntly Lodge closes on Thursday, and the property has been attracting interest from several Asian and local private developers during the campaign.