Three sites near Western Sydney’s future 24 Hour International Airport are on the market, as landowners capitalise on the NSW Government’s exciting development plans for the Western Sydney Aerotropolis.
Colliers have been exclusively appointed on each block totalling over 12 acres on Badgerys Creek Road and Derwent Road in Bringelly; and 5 acres on the corner of Lawson Road & Pitt Street in Badgerys Creek. Price expectations of more than $1.5 million per acre are expected to be achieved for all blocks, with the total approximate value estimated to be north of $25 million.
All properties were recently rezoned to Enterprise zoning as part of the Western Sydney Aerotropolis Rezoning in October 2020, a government initiative which has allowed the region to go from strength to strength and continue to set pricing records.
Whilst many landlords wait for the finalisation of the Precinct Plans (which closed its exhibition on 26 February 2021), there are a select few who are seeking to capitalise on the heightened demand within the region.
“The precinct plans in the Western Sydney Aerotropolis are progressing towards the final milestones for landowners who are looking to sell,” said Thomas Mosca, Associate Director, Investment Services at Colliers.
“Many owners had been left in limbo as to when they are going to be finalised, so owners are looking to capitalise on the demand of the Western Sydney airport.”
Nick Estephen, Manager, Investment Services at Colliers said, “The market has seen a huge jump in value since being rezoned by the NSW government in October 2020 which unlocked the future development of the 6,500 hectares.
He also added “We have all seen the region change dramatically, and we will continue to see the area flourish into a true Aerotropolis City in the years to come. We look forward to working continuously alongside with local landowners and purchasers; and watching the region grow to its full potential.”
“We are now 5 years away from the first plane taking off from Western Sydney International.”
Expressions of interest for all sites close end of February 2021.