Cr Khan and fellow investor Kurminder Singh took a 24.6-hectare town centre site in Rockbank to market last year hoping to sell it for $50 million, but have since pulled the site from the market.
Recently, he sold a five-hectare site at 262 Greigs Road, Rockbank, for $7.6 million through Knight Frank.
Cr Khan was first elected to the Wyndham City Council in 2012 and is responsible for its Urban Futures Portfolio, which covers liveability, housing, neighbourhood planning, urban design and long-term financial planning.
Asked if there was a potential conflict of interest between his land investments and his council duties, Cr Khan said there was not because all the land he owned was in the City of Melton.
Knight Frank’s Ed Wright and Yvonne Zhou have been appointed to market the four Thornhill Park sites, which are being offered in one line or individually.
Mr Wright said the offering was located within the Toolern Precinct Structure Plan, which is part of one of Melbourne’s fastest growing municipalities.
“The City of Melton is known as one of the fastest growing municipalities and is forecast to reach 477,900 by 2051,” he said.
Nearby estates include Woodlea by Mirvac and VIP Properties, Thornhill Park, being developed by former Essendon footballer Andrew Welsh, and Atherstone by Lendlease.
Cr Khan withdrew his appeal against convictions on eight charges related to interest return disclosures last September.
He is suing Wyndham City senior communications adviser and former Star Weekly journalist Adem Saban and two reporters at The Age, Royce Millar and Ben Schneiders, for defamation over articles published about him in 2017.