A MAJOR residential development site near central Wallan has sold to Sydney-based property group, Oracle Estates, for a speculated $14 million.

The 40.3 hectare former farm extends from the north-west corner of Rowes and Taylors lanes, through to a new housing estate which is also accessed by Taylors Lane, and the Northern Highway.

The property is about two kilometres from the Hume Freeway, a proposed major retail centre and the Wallan train station.

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