Melbourne west land mogul pulls plug

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Via AFR:

Colourful Melbourne property speculator and local councillor Intaj Khan has put a portfolio of four housing sites in the city’s west on the market with expectations they could sell for almost $60 million.

Cr Khan, who was found guilty of eight breaches of his duties as a Wyndham City councillor last year and fined $26,000, is selling parcels of land at 288-310 Paynes Road, 1053-1083 Mount Cottrell Road and 3 and 5 Iramoo Circuit in Thornhill Park ranging in size from 13.5 to 18.5 hectares.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.