• iconNews
  • videos
  • entertainment
  • Home
  • News
    • UK News
    • US News
    • Australia
    • Ireland
    • World News
    • Weird News
    • Viral News
    • Sport
    • Technology
    • Science
    • True Crime
    • Travel
  • Entertainment
    • Celebrity
    • TV & Film
    • Netflix
    • Music
    • Gaming
    • TikTok
  • LAD Originals
    • Say Maaate to a Mate
    • Daily Ladness
    • Lad Files
    • UOKM8?
    • FreeToBe
    • Extinct
    • Citizen Reef
  • Advertise
  • Terms
  • Privacy & Cookies
  • LADbible Group
  • UNILAD
  • SPORTbible
  • GAMINGbible
  • Tyla
  • UNILAD Tech
  • FOODbible
  • License Our Content
  • About Us & Contact
  • Jobs
  • Latest
  • Topics A-Z
  • Authors
Facebook
Instagram
X
Threads
Snapchat
TikTok
YouTube

LAD Entertainment

YouTube

LAD Stories

Submit Your Content
Family who refused $50 million offer for development says the area used to look so 'unique'

Home> News

Published 02:52 19 May 2023 GMT+1

Family who refused $50 million offer for development says the area used to look so 'unique'

The family admitted the area is barely recognisable from 16 years ago.

Charisa Bossinakis

Charisa Bossinakis

The Sydney family who refused to give up their beloved property for AUD $50 million (£33.1 m) said the area used to look so ‘unique’ before developers came in.

The Zammit family owns a sprawling housing development located near The Ponds, where there are loads of homes side-by-side that all look similar.

But their property sits on its lonesome on a humongous stretch of land and it was believed to be worth tens of millions of dollars when developers came around.

Advert

However, a hefty cheque isn’t enough to sway this strong-willed family.

7News

While the family has never officially discussed why they’ve remained on the block of land, they admitted to the Daily Mail that the area is barely recognisable from 16 years ago.

“It used to be farmland dotted with little red brick homes and cottages,” mother Diane Zammits told the outlet.

“Every home was unique, and there was so much space - but not any more. It's just not the same.”

Advert

Australian buyers agent Ella Cas revealed that the Zammit's block of land is worth a lot as it could be divided into 46 or 56 lots.

“So if developed, the revenue would be conservatively AUD $35.8 million (£18.92 m) or AUD $43.68 million (£23.35 m) if I'm a Sydney developer,” she explained to the outlet.

She added she had met several farmers who bought their homes for 'pennies' decades ago, only to become millionaires when they sold their property 20 years later.

So, perhaps the Zammits are in it for the long game...the very, very long game.

Ray White Quarters Hill real estate agent Taylor Bredin also previously told 7News: "The fact that most people sold out years and years ago, these guys have held on. All credit to them."

He shared a similar sentiment to Ms Cas, revealing: “Depending on how far you 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 meter block would get a million dollars.”

Advert

The house on Hambledon Road sticks out like a sore thumb, as the vast lot surrounded by greenery has neighbouring two-story grey-roof homes all around it.

Honestly, it looks like one of those blocks of land you can build a home in The Sims - give us a moat and everything!

Although numerous outlets have asked the family if they could see the property on the market anytime soon, they have refused to comment.

Until then, they can continue to enjoy the humongous land fit for a king, queen and even Harry and Meghan.

Featured Image Credit: 7News

Topics: News, Australia

Charisa Bossinakis
Charisa Bossinakis

Charisa Bossinakis is an Associative Journalist at LADbible. Charisa has worked across various media platforms including, print, digital, radio and podcasting while maintaining the highest regard for quality work and integrity. She also covered everything from breaking news, to pop culture, entertainment and politics and is part of the editorial team for LADbible.

X

@CBossinakis

Advert

Advert

Advert

Choose your content:

2 hours ago
3 hours ago
4 hours ago
15 hours ago
  • 2 hours ago

    Passenger on Air India flight hours before crash claims 'nothing was working' in haunting video

    An Air India passenger said 'nothing was working' on a previous flight hours before the crash

    News
  • 3 hours ago

    Everything we know about British man who was sole survivor of Air India plane crash in miracle of seat 11A

    Only one of the 230 passengers and 12 crew on board Air India flight AI171 survived the crash

    News
  • 4 hours ago

    Pilot's 'tragic final words' on Air India flight suggest what went wrong as black box found

    Sumeet Sabharwal was the captain of the Air India flight AI171, as 241 of the 242 people on board were killed in the crash

    News
  • 15 hours ago

    Psychologist explains why Donald Trump does 'trademark move' after world leader 'outplays' him at it

    An expert has analysed Donald Trump's 'physical' move that he pulls when meeting fellow world leaders

    News
  • Neighbours of family who refused £25 million offer from developers say they’re 'grateful' for their decision
  • Council responds amid concerns family who refused £25 million offer from developers could be forced to leave home
  • Family rejected £25 million offer from land developers who built entire estate around property
  • Stubborn family who refused to sell house to property developers for 30 years finally cash in for £2.8 million