The site of the former indoor cricket centre at Fairy Meadow has been sold, but what the future holds for the property remains unclear.The prime 15,000sqm Princes Hwy site was part of the portfolio of Sebvell, a joint venture company started by developers Frank Vellar and Frank Sebastian that is now in the hands of receivers.The property failed to sell at auction last month. Offers of about $5 million were expected, but bids came to a halt at $3.2 million.The property, which includes the Campbells Cash & Carry building that closed in 2008, is believed to have been bought by a private investor for about $4 million, but exact details of the sale and identity of the buyer remain confidential.Sebvell bought the site for $1.63 million in 1997 and it was earmarked for a $7 million call centre in 2001, designed specifically to cater for OneTel, but the plans fell through.The site was sold with council approval for a 13,760sqm data-processing centre, however zonings allow for both retail and residential developments.The sale was negotiated by Emil Novak of Colliers International, who said the buyer had picked up a key site in an excellent location, although plans for the property were yet to be decided.