A family turned down a cool sum of $50 million recently from a property developer in Australia who offered them the sum for their home. The family is refusing to sell their five acre home and developers are now having to build around the home.
Their refusal to sell has resulted in a cul-de-sac which is quite nice for the surrounding area.
Property Not For Sale
“The fact that most people sold out years and years ago, these guys have held on. All credit to them,” said Taylor Bredin who is a real estate agent with Ray White Quakers Hill.
He estimates that the land they are occupying can easily accommodate up to 50 houses.
“Depending on how far your push the development plan, you’d be able to push anywhere from 40 to 50 properties on something like this, and when subdivided, a 300 square metre block would get a million dollars.”
The family, the Zammits reminisced about the land that was previously farmland with cottages and homes with red bricks.
“Every home was unique and there was so much space – but not any more. It’s just not the same,” said Diane Zammit, 51.
The property which is 40 minutes from Sydney has a 650-foot driveway opening out to a huge lawn.The property also has a huge garage and views of the Blue Mountains.
An aerial view of the home on Twitter showed how the entire surrounding has some sort of construction going on.
“Poor guys, They just want to live in peace,” said one netizen.
“True, but at this point wouldn’t $50 million be enough to buy a house with a nice piece of land so this situation wouldn’t happen again as they own the surrounding land. Then again if the house has a lot of sentimental value to the owners I can totally agree with their decision,” said another.
Read More News
Weekend cheat meals and binge eating can affect cognition
Photo above is from Unsplash