CBRE has been appointed to sell three landholdings with development potential in the Western Sydney Airport precinct.
The private family-owned landholdings in Badgery's Creek, Luddenham, and Kemps Creek are being sold separately by CBRE agent Thomas Mosca.
The three land parcels are expected to net owners a collective $50 million.
Off the back of the New South Wales Government's Western Sydney Aerotropolis Land Use and Infrastructure Implementation Plan (LUIIP), each landholding is currently in a different stage of rezoning.
The LUIIP provides a broad overview of the Western Sydney Airport precinct's growth strategy and identifies three key areas for rezoning before 2020.
The three land parcels, all of varying sizes, offer potential buyers a broad range of choice and potential development opportunity.
Mr Mosca says these listings highlights the growing anticipation felt by landowners and investors in the lead up to the release of the LUIIP.
“The release of the NSW Government’s growth strategy has been crucial to managing the timing of land release and knowing which key areas would offer maximum return on investment,” Mr Mosca said.
“We have listed three parcels of land on behalf of private vendors. Earmarked for future ‘Flexible Employment’, these allotments offer a range of opportunities and would ideally suit buyers interested in industrial and business uses.”
CBRE are taking to market a 174ha Luddenham property, an 18.5ha site in Kemps Creek and two prime hectares of land on Elizabeth Drive.
Mr Mosca said the Luddenham and Kemps Creek sites were well positioned to benefit from the M12 Motorway acquisition.
The sites also offer opportune access to the Chinese-backed Northern Gateway Partnership’s masterplan – 344 hectares of retail, health and logistics infrastructure, a mini-city within a city – and Mirvac’s Elizabeth Drive Enterprise Precinct, a large format industry, and mixed retail development.
“The airport precinct has solid potential to support more intensive future uses – office parks, residential, industrial and more,” Mr Mosca said.
Mr Mosca also noted, “These campaigns will test the market, helping investors and landowners to gauge the value of their properties amidst new market conditions.”
Last month, Prime Minister Scott Morrison kicked off construction at the Western Sydney Airport, which is due to open in 2026. The second stage of the NSW Government’s plan is expected to roll out in 2019.
For more information or to register your interest, contact CBRE's Thomas Mosca via the details below.
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