One of the multimillion-dollar sites for sale by VicRoads.
The State Government looks set to pocket millions of dollars selling land purchased decades ago for an aborted freeway proposal.
Two large parcels of land that were purchased for the abandoned Healesville Freeway are being sold off by VicRoads for close to $8 million in total.
The sites are just north of the Healesville Freeway Reserve, alongside Vermont College.
A site at 37-43 Moore Rd, Vermont has an asking price of $3.9 million. The site was purchased for just $131,000 in February 1980, according to CoreLogic.
Nearby, 42-50 Moore Rd is on the market for $3.75 million. Its sales history is undisclosed.
Both blocks are about 9000sq m in size.
They fall just outside the allocated titles surrendered to the Crown as public land to create the 35ha Healesville Freeway Reserve from 2017.
“Many years ago they purchased a lot of land all the way through to build a freeway that never went ahead,” Barry Plant Blackburn agent David Mason said.
“Over the years they’ve offloaded parcels of land — they don’t want to sell it all at once because they don’t want to flood the market.”
Images from Healesville Freeway Reserve.
Community groups have lobbied to keep the Healesville Freeway Reserve undeveloped over the years.
The State Government said in 2018 that funds from the sale of state-owned land adjoining the reserve would be placed in a trust to develop and maintain the park.
It came after Whitehorse council accused Premier Daniel Andrews of reneging on the commitment to preserve the land as public open space in a 2014 election promise.
Mr Mason said the sites had mostly attracted developer interest, as well as owner-occupiers looking to build a large house and create a lifestyle property.
No. 37-43 Moore Rd has an asking price of $3.9 million.
No. 42-50 Moore Rd, Vermont is on the market for $3.75 million.
“It’s a good little spot — it’s kind of like a country lane yet you’re very close to everything,” he said.
Mr Mason said the coronavirus crisis had allowed agents to spend more time with both buyers and sellers one-on-one.
“It’s a people game, not a property game,” he said.