A 20-hectare land parcel located within the Mamre Road Precinct will test demand in the Western Sydney market.
Marketing collateral says the amalgamated site, at 244-270 Aldington Road in Kemps Creek, is tipped to garner interest for around the $75 million to $80 million mark.
The property spans two titles, 244-256 Aldington Road Kemps Creek and 258-270 Aldington Road, and is being sold as an amalgamated offering.
Property records show the 244-256 Aldington Road site last translated in June 1980, for $77,400. While the 258-270 Aldington Road Kemps Creek site last sold $64,000 in August 1977. Both sites are occupied by residential dwellings.
In October last year, the Barba and Putrino families snapped up a nearby 3.96-hectare farm at Badgerys Creek for $14.5 million.
The 205 Lawson Drive purchase signalled the first transaction since the area was officially rezoned by the NSW government in June last year, and followed the state’s green-light as part of a fast-track announcement.
The long-time landowners at Aldington Road are now selling following the recent rezoning of the precinct and exhibition of the draft Mamre Road Development Control Plan.
Agents say the sale is expected to generate interest from private developers, owner-occupiers, speculators and institutional investors from domestic buyers and interest from the Asia Pacific.
The international expressions of interest campaign is being managed by Mark Litwin, Grant Bulpett and Angus Klem of Knight Frank who said the site is one of the last raw parcels available within the Mamre Road Precinct.
“Major amalgamated parcels are already spoken for, and there are few amalgamation potentials left that aren’t affected by water corridors or transmission easements,” Litwin said.
As a surge in demand for logistics space has been seen in recent times, Frasers Property Industrial and Altis Real Estate Trust will develop 118 hectares of industrial land, spanning properties from 649-to-763 Mamre Road, at the Mamre Road Precinct.
The joint venture team follow listed-developer Mirvac, which has its own plans for a 56-hectare industrial estate within the Mamre Road area after buying the site for $71 million in late 2018.
The Mamre Road precinct spans 850 hectares and is one of 10 key precincts in the Western Sydney Aerotropolis.
Nearby, the Western Sydney Airport is anticipating to be operational by 2026.
The airport precinct came under the spotlight last year due to the Leppington Triangle land scandal, which triggered an Australian Federal Police investigation.
