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See below example: Sold for $930,000 over reserve was the caption (caption later changed). I bet you the agent thought they were the best 100% over the reserve etc... little did they know. Land has now been re-zoned. http://www.realestate.com.au/property-house-nsw-hurstville-115909943

If you don't know, then you don't have friends in high enough places. It takes 2 years to prepare an LEP. 2 years for secrets and future zoning to leak out.

It will be amalgamated with 4-5 other properties to make a 2500sqm block. A 2500sqm block with and FSR of 3:1 equates to roughly 90 units. In turn, market price today is about $150,000 a unit which means the site is worth $13,500,000. If split 5 ways thats $2,700,000. Not a bad return...

Everyone who builds in the Belmore area knows council has earmarked south of the station to Canterbury Road as high rise, this is just front running by Councillors/Planners family members.