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Sold on 20 Sep 2019

Pitruzzello Estate/45 Mundy Road Sunbury VIC 3429

  • Development / Land
  • 63.44 ha
  • Sold

Award Winning Pitruzzello Estate Olive Grove & Vineyard

  • 35ha* of olive grove & vineyard
  • 24ha* of vacant undeveloped land
  • Immaculate 4 bedroom residence

ICR Property Group, in conjunction with Melbourne Commercial Group, are pleased to present a rare opportunity to move into the award winning Pitruzzello Estate, a multi-faceted olive grove, winery and reception centre with prospects for significant growth.

The site is being offered by Expressions of Interest closing Friday 6th September at 3pm.

This magnificent site extends over 63.4 hectares of land and includes a well-established olive and vineyard plantation with a processing facility catering for its 12,000 olive trees and 13,000 vines.

From a business perspective, it has got it all.

A function centre, popular public café and restaurant can cater for wedding and events and accommodate up to 890 people, a high quality 4-bedroom residence and a significant allocation of vacant undeveloped land (24 hectares*) with Green Wedge Zoning designation, opens the door to additional revenue streams waiting to be explored.

The key asset and investment highlights are summarized below:
- Land area: 63.4 ha* (156.7 acres*)
- Including 240,000 (24 ha*) sqm* of undeveloped vacant land
- 300,000 (30 ha*) sqm* olive tree plantation: 12,000 trees (Leccino, Fontoio, Pentelino and Kerokin varieties)
- 52,600 (5.26 ha*) sqm* vineyard: 13,000 vines (Shiraz and Sauvignon Blanc varietals)
- Premium grade development of improvements for the production of olive oil
- Substantial improvements that include hospitality and function centre improvements, cafe and restaurant
- Processing facility
- Immaculate four (4) bedroom residence
- 20 megalitre dam, two bore water pumps, and use of recycled water via the direct connection to Western Water to sustain the agricultural production
- Pump and machinery sheds
- Green Wedge Zoning

Location features:
- Easy access with the site being adjacent to the Calder Freeway
- 41 kms* to Melbourne CBD
*Approx.

EXPRESSIONS OF INTEREST CLOSING FRIDAY 6TH SEPTEMBER AT 3PM.

To obtain due diligence documents or to organise an inspection, please contact one of below Exclusive Sales Agents:

ICR Property Group: Raff De Luise 0418 533 633
ICR Property Group: Julian Materia 0498 188 011
Melbourne Commercial Group: Domenic Dastoli - 0418 370 242

EXPRESSION OF INTEREST

Closing date and time06/09/2019 15:00
Recipient nameAsk Agent
Delivery addressAsk Agent

Property Highlights

Property ID2015498798
Date Sold20 Sep 2019
Floor Area634,414 m²
Land Area63.44 ha
ParkingAsk Agent
Category
Last updated  26 Nov 2019
Map for Pitruzzello Estate/45 Mundy Road Sunbury VIC 3429
Map for Pitruzzello Estate/45 Mundy Road Sunbury VIC 3429Pitruzzello Estate/45 Mundy Road Sunbury VIC 3429
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  • Purchase price

    $
    1,234,567

  • Deposit available

    $
    123,456

  • Loan term

    30
    years

  • Interest rate

    3.00
    %

repayments

$0/month*

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ICR Property Group
Level 1 373 Queen Street Melbourne VIC 3000

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