CBRE has been appointed to sell three parcels of land in the burgeoning Western Sydney Airport precinct.
On the back of the NSW Government’s Western Sydney Aerotropolis Land Use and Infrastructure Implementation Plan (LUIIP), released last month, each landholding is in a different stage of rezoning.
The plan provides a broad overview of the Western Sydney Airport precinct’s growth strategy and identifies three key areas for rezoning before 2020.
The CBRE listed properties, of varying sizes, offer potential buyers a broad range of choice and development opportunity.
CBRE’s Thomas Mosca said these new listings highlighted the growing anticipation felt by land owners and investors leading up to the release of the plan.
“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 will take to market a 174ha Luddenham property, an 18.5ha site in Kemps Creek and two prime hectares of land on Elizabeth Drive – a major arterial road, pivotal for the future development of the area.
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 land owners to gauge the value of their properties amidst new market conditions.”
The second stage of the NSW Government’s plan is expected to roll out in 2019, following community feedback.