The Zammit family refused to sell their five acre property as an entire Sydney suburb was built around them

[u/Wonderfulhumanss]

[u/Big-Orse48]

This is your average farmland property in Australia.

The farmers cleared the trees decades ago because they interfered with precious farm land.

We also have a bad salinity issue now. I wonder why.

At some point, that farm was sub-divided and the Zammits either did the sub-dividing or bought the sub division.

They're stupid to not sell, there's no pristine land they're preserving, it's just grass.

Sell for $60 million and go buy somewhere actually nice and forget about the stresses of life for generations to come.

[u/Amazing-Demand516 → u/Big-Orse48]

Agree. $60 million invested will return the proverbial 4% or $2.4 million every year forever

[u/A_baby_yall → u/Big-Orse48]

Don’t farmlands usually have… farm land?

[u/Big-Orse48 → u/A_baby_yall]

My point here is that they’re not holding out on selling to the developers for some sort of noble cause, they bought a sub divided block that is literally a paddock and It’s still just a paddock. They’ve done nothing to improve it, there’s not even a single tree planted.

Even with that size land, being skinny, they’re still slap bang in the middle of the urban sprawl, with a second floor view of it.

There is absolutely no reason to not sell unless they are holding out for even more money, in which case they’re not just stupid, they’re greedy too.

[u/JasperJ → u/A_baby_yall]

They’ve clearly sold the farm land, though.

[u/A_baby_yall → u/JasperJ]

They refused to sell their land. It’s in the title.

[u/JasperJ → u/A_baby_yall]

They didn’t sell the parcel the house sits on, correct.