$218K to $13.5 million in 22 years

i recently had the property file for 251 Grange Ave, Marsden Park NSW 2765, cross my desk.
It was sold in 1996 for $218,000 and has resold as a shopping centre site for $13.5 million to settle in February 2019. It is 5 acres of land, the house is of no value.
This is over a 60 fold increase in 22 years and tax free.

Has anyone ever seen this kind of profit in real estate.

No it was not mine.

 

There have been many examples in Melbourne like this one
Melbourne farm that cost $870 to sell for up to $50 million
and this one
No Cookies | The Weekly Times

 

It is in the middle of no where, I would say this is by luck mate, just like the lotto twice every week. You do need $$ to land bank and that's I agree.

 

Incredible. Presuming the tax free status a result of it being used as a PPOR?

Seems there really should be some limits around how it's used and the tax free value that can be extracted if that's the case.

 

$3000 to $4000 per sqm has not been uncommon along the north west rail link.

 

We got offered $4250/sqm, until the council put a stop to it because the MP lives JUST outside the streets being offered up.
Unless someone in the council profits, they won't let it happen.
Would have tripled our money, in 5 years.

 

I have tripled my money in 2 years once and 5-6 times my money in 5 years quite a few times but 60 fold in 22 years is the best Sydney investment, I have seen. I dont believe it is mainly luck but good planning, solid homework and a little tiny bit of luck.