Three sites near new Western Sydney Airport for sale as sellers cash in on surging land value
Three landowners are set for a significant payday as they seek to capitalise on their property’s proximity to the future Western Sydney Airport.
The properties have all come up for sale following a major rezoning undertaken by the NSW Government last year and ahead of the first flight in five years time.
Colliers International has been appointed to sell the three sites including 2.02ha backing directly onto the airport itself at 185 Lawson Road, Badgerys Creek.
The other two sites total over 5ha on Badgerys Creek Road and Derwent Road in Bringelly.
Exact price guides have not been set, but expectations more than $2.47m per hectare are expected to be achieved for all blocks, with the total approximate value estimated to be north of $25m.
All properties were recently rezoned to Enterprise zoning as part of the Western Sydney
Aerotropolis Rezoning in October 2020, which has seen the region set numerous records.
Colliers International Thomas Mosca said while many landlords wait for the finalisation of the Precinct Plans, there are a select few seeking to capitalise on the heightened demand.
“The precinct plans in the Western Sydney Aerotropolis are progressing towards the final
milestones for landowners who are looking to sell,” he said.
“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.”
Colliers International investment services manager Nick Estephen said the market had seen a jump in value since 2630ha was rezoned.
“Recent sales suggested there has been a price jump of anywhere between 10 and 20 per cent in the past six month,” he said.
Mr Estephen expects most of the buyers for the three properties to either be local and national developers, institutions and even community organisations. He said 185 Lawson Road, which backs onto the airport was expected to be highly sought after due to its location.
“It is located on the corner of what will be a major section going to the airport, which will make it a highly attractive investment for buyers,” he said.
Named Western Sydney International (Nancy-Bird Walton) Airport, the airport will operate 24-hours a day unlike Kingsford Smith Airport in Mascot.