Victoria sells former Sunbury psychiatric hospital to Channel Nine for $1m
A local agent called the price 'eyebrow-raising', and an MP wants the government to reveal how the $1m figure was reached.
The Victorian government sold a former psychiatric hospital in Sunbury to Channel Nine. The 2.6 hectare site sold for just $38 per square metre, or $1m in total.
Three buildings on the site will reportedly be turned into five homes by the show's contestants. The sale is the cheapest real estate purchase in The Block's history.
Local agent Trent Mason called the price 'eyebrow-raising'. Mason said the land would be valued much higher, based on comparative sales.
Legalise Cannabis MP David Ettershank has urged the government to reveal how the $1m figure was reached. A Victorian government spokesperson said the property was sold at market value.
- $1m, or $38 per square metre
- Sale price
- 2.6 hectares (6.4 acres)
- Site size
- Five homes from three buildings
- Planned homes
Why it mattersPublic land is being sold for a TV show, so people want to know how the price was set.
AustraliaVictorians have a direct stake, because the land is public and the sale price is now being questioned.
✓ Claims checked against the source. checked 1 h ago
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