A famous horse stud on the south-eastern outskirts of Melbourne that sold for $379,000 in 1994 has been snapped up as future industrial estate by superannuation fund-backed developer ISPT for more than $100 million.
The 78.8ha rural property at 425 Officer South Road in Officer South is home to the Jesmond Dene stud, where Bart Cummings trained 1969 Caulfield Cup winner and that year’s Melbourne Cup favourite Big Philou, before he was infamously nobbled.
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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com
