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Knight Frank is pleased to present 295 Settlement Road, Sunbury – a significant 95.1-hectare* landholding situated just beyond Melbourne’s Sunbury/Diggers Rest Growth Corridor, benefiting from proximity to major infrastructure, established townships, and ongoing metropolitan growth planning.
Occupying a strategic position approximately 3 kilometres west of the Sunbury North Precinct Structure Plan and 4 kilometres south of the Urban Growth Boundary, the property presents a rare large-scale land banking opportunity with long-term urban development potential.
Formerly operating as Penfield Airfield Sunbury, the property comprises an existing three-bedroom residence, dual decommissioned runways, and associated aviation infrastructure. Historically generating income in the vicinity of $1 million annually, as well as a successful paint ball business operating from a 12-acre pine forested area on the property, the site offers an adaptable foundation for rural, aviation, or light agricultural uses (STCA), while providing strong underlying potential for future uplift in line with surrounding urban expansion.
Key Features:
• 95.1ha* total land area
• Flexible settlement terms available
• Open paddocks with established tree-lined boundaries
• Existing airstrip with potential to recommission (STCA)
• Suitable for agricultural, aviation, or rural residential use
• 12-acre pine forest on premises previously used for paint ball business
• Long-term flexibility pending potential rezoning
• Existing 3-bedroom residence
For Sale by Expression of Interest Closing Thursday, 11 December 2025 at 2:00pm (AEDT)
For more information or to arrange an inspection, please contact one of the exclusive selling agents:
Nick Bisset +61 437 748 120
Jacob Haydock +61 422 777 526
*Approximately
Remember to mention you found this property on DevelopmentReady
Knight Frank is pleased to present 295 Settlement Road, Sunbury – a significant 95.1-hectare* landholding situated just beyond Melbourne’s Sunbury/Diggers Rest Growth Corridor, benefiting from proximity to major infrastructure, established townships, and ongoing metropolitan growth planning.
Occupying a strategic position approximately 3 kilometres west of the Sunbury North Precinct Structure Plan and 4 kilometres south of the Urban Growth Boundary, the property presents a rare large-scale land banking opportunity with long-term urban development potential.
Formerly operating as Penfield Airfield Sunbury, the property comprises an existing three-bedroom residence, dual decommissioned runways, and associated aviation infrastructure. Historically generating income in the vicinity of $1 million annually, as well as a successful paint ball business operating from a 12-acre pine forested area on the property, the site offers an adaptable foundation for rural, aviation, or light agricultural uses (STCA), while providing strong underlying potential for future uplift in line with surrounding urban expansion.
Key Features:
• 95.1ha* total land area
• Flexible settlement terms available
• Open paddocks with established tree-lined boundaries
• Existing airstrip with potential to recommission (STCA)
• Suitable for agricultural, aviation, or rural residential use
• 12-acre pine forest on premises previously used for paint ball business
• Long-term flexibility pending potential rezoning
• Existing 3-bedroom residence
For Sale by Expression of Interest Closing Thursday, 11 December 2025 at 2:00pm (AEDT)
For more information or to arrange an inspection, please contact one of the exclusive selling agents:
Nick Bisset +61 437 748 120
Jacob Haydock +61 422 777 526
*Approximately
Remember to mention you found this property on DevelopmentReady
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