Nine has already announced that The Block will transform three historic buildings at Jacksons Hill into six homes for its 2027 season. The proposed project remains subject to approvals, with heritage consultation still under way.

A news.com.au article said industry sources had put the agreed price at about $1.1 million, after separate rumours suggested $1.4 million. Neither Nine nor the Victorian Government had confirmed the figure, and a source close to the programme said the transaction had not settled.

Property Figures Want More Detail

Property Investors Council of Australia chairman Ben Kingsley questioned whether the market had been properly tested and what independent valuation had been used if the reported price was accurate.

MR Advocacy director Madeleine Roberts also called for greater transparency, saying any wider public benefits or obligations used to justify a discounted price should be explained.

The raw figure does not tell the full commercial story. The 2.6-hectare Crown allotment includes heritage protections, conservation requirements, a community consultation process, water damage and past vermin issues that could all affect its value and redevelopment cost.

An industry insider told the publication that the precise terms were more complicated than the headline number and pointed to the planning, conservation and development obligations attached to the site.

Plans before Heritage Victoria show buildings B26, B27 and B28 being adapted into six residences with new pavilions, swimming pools and undercover parking. Submissions on the proposal remain open until October 6.

The project was unveiled as part of Nine’s broader 2027 Block announcement, which also includes a Stan all-stars spin-off next door.

Until the sale price and conditions are publicly confirmed, the $1.1 million figure remains an industry-sourced claim. What is already clear is that Sunbury’s biggest renovation will begin with a debate about the deal before a contestant has lifted a hammer.