50 Devonshire Road, Rossmore, sold for $4.51 million.

50 Devonshire Road sold for $4.51 million, making it the most expensive sale in Rossmore since 2010 according to CoreLogic RP Data figures.

There were 16 registered bidders but only three took part in the auction, said auctioneer Rocky Bartolotto of Auction Services.

An opening bid of $2 million was quickly eclipsed by a $2.5 million offer, after which bids were made in $100,000 increments until easing after $3.9 million.

The hammer eventually fell at $4.51 million to a husband and wife who will develop the land in future.

“An increase in recent infrastructure expenditure has captured the attention of developers for potential future growth,” Mr Bartolotto said.

One of the dwellings includes a three-bedroom cedar clad home.Source:Supplied

Located 50km west of Sydney’s CBD, Rossmore has enjoyed strong price growth during Sydney’s property boom, with median house prices doubling in the last five years to $1.73 million. Median property values have increased by 20 per cent in the last 12 months alone.

The rare offering at 50 Devonshire Rd includes two three-bedroom homes that have the potential to rent for a combined $900 per week.

The property also includes a dam and two large sheds.Source:Supplied

The property was sold through Edwin Borg and Shane Brown of United Acreage Residential & Prestige.

Mr Borg says most of the interested buyers were investors.

“There was the odd buyer who wanted to live in it as dual occupancy. The buyers were land bankers – someone who puts their money into a property to hang onto it until it gets rezoned,” Mr Borg said.

Inside the first home which has a timber kitchen and open plan lounge and dining.Source:Supplied

Mr Borg observes that a number of mum-and-dad investors are seeing the value and potential for growth in south west Sydney.

“Some people are getting about $1 million per acre for their properties then using that money to buy more property in the next suburb over for half the amount. They are getting premium money from developers and are sometimes buying up two properties at a time,” said Mr Borg.

50 Devonshire Road has two properties set on over 14 acres.Source:Supplied

Flanked by Badgerys Creek to the north, Rossmore is at the epicentre of infrastructure projects like the Bringelly and Northern Road upgrades, plus the Leppington train line which is proposed to extend through to Rossmore, Bringelly and the Badgerys Creek Airport site.

This infrastructure couldn’t come sooner for Western Sydney residents, as experts predict that Western Sydney will be home to over half of Sydney’s population within 15 years.