A farm at Badgerys Creek has changed hands for $14.5 million, marking the latest land deal within the western Sydney Airport precinct.
The Barba and Putrino families—owner-occupiers in the food industry—snapped up the 3.96-hectare site with plans for a future development project.
Currently a poultry farm, the 205 Lawson Drive site is earmarked to be rezoned for flexible mixed-use and employment purposes.
The block of land is the first to transact since the finalisation of the NSW government’s rezoning of “priority precincts” in line with the Western Sydney Aerotropolis Plan.
The state government this month gazetted the rezoning of more than 6000 hectares of land as part of the priority precincts for employment, residential and environmental uses.
CBRE’s Elijah Shakir, Andrew Sukkar and Fabio Screpis managed the Lawson Drive sale, its transaction price equating to $366 per sq m for what is currently unserviced land.
“The transaction sets a new benchmark for the Badgerys Creek precinct, representing a 28 per cent uplift on the previous record set two years ago when the Aerotropolis precinct maps were first issued,” CBRE’s Sukkar said.
The airport precinct has seen recent sales from high profile groups such as Suttons Automotive, Hanson, Adelaide Brighton and Mirvac.
Last month a parcel of land at 100 Martin Road, Badgerys Creek sold for $5.37 million in a transaction managed by Colliers.
The 2.26-hectare land site, located within the Aerotropolis, sold via a public auction which received more than 50 bids.
The property was sold on an unconditional 42-day settlement, transacting for 15 per cent over the reserve.
Thomas Mosca, Nick Estephen and James Cowan of Colliers managed the sale.
Officially known as the Nancy-Bird Walton Airport, construction of the airport is scheduled to be completed across four stages, with the first stage slated to open in 2026.