A gateway industrial development site at the south west tip of the Western Sydney International Airport, which is under construction, has sold to a local syndicate.
The 80.1 hectare former Blue Hills Dairy, later the AAA Christmas tree farm, at 2215 The Northern Road, Luddenham, is believed be trading for over $70 million – the guide when it hit the market 12 months ago.
The vendor, Naro Pty Ltd, owned by a private family, held it 43 years.
The result values land at c$87 per square metre.
“This site is one of the largest single land holdings to transact in the Western Sydney Aerotropolis since it was announced,” Colliers’ Nick Estephen, who marketed the site with Thomas Mosca, said.
“It also is a significant milestone for the Agribusiness precinct with many developers gaining confidence in the area becoming a thriving employment hub,” he added.
Elsewhere in the street, Barry, Ken and Wendy Hughes family via development partner, Gray and Walsh, are seeking to replace a 67.2ha block with a business park after their family used it for agricultural purposes since the 1840.
Luddenham is about 42 kilometres west of Sydney’s CBD.
Another investor buys in
The 2215 The Northern Rd deal comes two months since ESR purchased a 17ha Badgerys Creek block earmarked for four warehouses with a total c80,000 sqm (story continues below).
On Martin St, that land cost $70m from a Vietnam based investor.
That fund manager also controls the Bringelly Business Hub at Leppington, 12kms to the south east.
Altis, Aware Super, BC Land, Dexus, Fife Capital, Frasers Property Industrial, Goodman, GPT, Mirvac and Stockland also control local commercial building blocks around the WSA.
The state government is also advancing plans to build a “third city” – Bradfield – in the pocket.
“We are constantly seeing new waves of capital flowing into the Aerotropolis and there is an abundance of opportunity across the entire 11,000ha that can cater for any investment or development mandate in every sector,” Mr Mosca said.
The Western Sydney International Airport, also to be known as the Nancy Bird Walton Airport, and the Aerotropolis, are set to open in 2025/26.
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