hot 296

Family reject developers who build suburb around entire property – 10 years later, house’s value is astronomical

We’ve heard stories before about people defying ‘the man’, but one family in Australia seem to be taking things to a whole new level after rejecting any and all offers on their property.

According to reports, the family in question have repeatedly turned down developers, who went on to build an entire suburb on all the land bordering the property in question.

Undeterred, however, the owners of the Windsor Castle-style mansion claim they are unable to put a price on their special home. Reportedly, the Australian property features a 650-foot driveway and is surrounding by lush green gardens. It also has a panoramic view of the Blue Mountains.

Developers are said to be so desperate to purchase the land upon which the property sits, that they’ve made several big offers.

And yet still the family say no…

As per reports, most of the neighboring blocks of land were sold off in 2012, during which time the property in question would have been valued at around $4.75 million.

10 years later, however, experts are claiming that the home might be worth as much as a staggering $50 million!

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

“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 metre block would get a million dollars.”

Today, the property is enclosed on all sides by neighboring homes built right up to its fence. The family who live there, however, has no plans to sell and say they like living in a cul-de-sac.

Mom Diane Zammit, 50, told Daily Mail Australia that the neighborhood used to be “farmland dotted with little red brick homes and cottages”.

“Every home was unique and there was so much space – but not any more. It’s just not the same,” she said.

Wow! It sure takes a hell of a lot of resolve to turn down the idea of $50 million! What do you think about this family’s decision? Let us know thoughts in the comments box.