Although money can buy you a lot of things, it really can’t buy you everything. This family is a prime example of valuing sentiment over money.
Even when offered millions for their land, they were steadfast and made sure not to sell out and stood their ground, quite literally!
Despite the immense pressure to “sell up and get out” from developers, a Sydney family has refused to give up their beloved property.
There’s a sprawling housing development located near The Ponds and there are loads of homes side-by-side that all look similar. However, there is one home that has a humungous stretch of land, which was worth around $50 million when the developers came knocking.
The Zammit family, who owns an extremely large plot of land in Ponds, has refused to sell their two-hectare stretch of land. If you look at a birds-eye-view photo, one can see that the area has been an issue for developers, who feel they can get more for their money if they could purchase the property.
The property itself has quite a large front and back lawn. In addition, it has a 200-meter driveway leading up to the family’s brick home. Not to mention, there is a triple garage for their cars.
Around the stretch of land, you can see how many houses and homes were built.
Looking at the space and area owned by the family, it’s easy to see that developers are quite frustrated that they do not wish to sell. It is an area big enough to put up dozens upon dozens of homes, easily making for a huge cashout.
Despite being frustrated with the family, many developers also offer praise for their refusal to sell.
One developer gave the Zammit family credit for holding onto their property for as long as they have.
Taylor Bredin, an agent of Ray White Quaker Hill told 7NEWS Australia:
“The fact that most people sold out years and years ago, these guys have held on. All credit to them.”
He went on to say:
“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.”
Even with that impressive price tag dangling in front of them, the Zammit family has held strong.
Of course, that kind of money not only has to ability to change your own life but your children’s children’s lives as well.
Whatever the Zammit family decides to do with their property is their business and they haven’t made any statements on whether they plan to sell or not.
Watch the video report below for more details:
Sources: AWM, 7NEWS Australia/Youtube