WODONGA property developer Eric Pietila has snapped up more residential land in Thurgoona with the purchase of property previously owned by Hudson Conway.
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Mr Pietila's company Nordcon is the new owner of Somerset Rise for a price close to the asking amount of about $10 million.
He said he was looking forward to completing the estate where more than 80 houses had already been developed in three stages.
At the time of Hudson Conway's decision to sell in mid-April, 288 lots remained undeveloped.
Somerset Rise's 42 hectares are located between Elizabeth Mitchell Drive and the Hume Freeway with the average block selling for around $132,500 in the last 18 months.
"It is a very well presented estate and has set a high standard for an area which is continuing to grow," Mr Pietila said.
"We understand there was some outside interest so we are very happy we're the new owners."
Hudson Conway is the property development company founded by leading Melbourne businessmen Ron Walker and Lloyd Williams.
Mr Pietila is presently developing two other estates in the Thurgoona area, The Elms and Mountain Rise.
