The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FIRST RELEASE TICKETS ON SALE FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FIRST TICKETS ON SALE FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
SEE DETAILSDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
7
print
Print
EducationTaryn ParisTue 07 Feb 23

Greenfield Sale Opens Up Western Sydney Airport Market

A 41ha site at Austral has hit the block with price expectations of more than $100 million.

It’s the largest land parcel so far to hit the market in this pocket of prime development space, according to Colliers agent Joe Sacco, who is selling the site for Hellenic Village. 

A recent rezoning of Austral and Leppington North precincts has paved the way for masterplanned communities close to the new Western Sydney Airport, which was expected to be operational in 2026. 

“Zoned sites of this size in established areas are very rare in the current market,” Sacco said. 

“Given the size and diverse offering of the site we expect buyer interest to be incredibly strong and come from a wide range of developers from both interstate and international.”

Austral is in south-west Sydney, one of the fastest growing regions in Australia, with more than 1.5 million people expected to call the region home in 2036. 

Billed as the “city of the future”, the Western Sydney Aerotropolis has been slated as Sydney’s third CBD and is expected to lure about $3.6 billion in investment. 

Minor planning changes for the Aerotropolis Precinct Plan went to public consultation late last year and are due to be finalised early 2023. 

Colliers agent Frank Oliveri said the 41ha site at Lot 10 Gurner Avenue at Austral was a rare opportunity to capture upside in the market. 

“The scale of this Austral site offers significant future development pipeline that can be built to meet market conditions over the short, medium and long term if desired,” Oliveri said.

Oliveri said subject to council approval the site could be reshaped as a masterplanned housing estate in one of “Sydney’s most in demand suburbs”.

The Western Sydney Aerotropolis will be one of the largest and most ambitious development projects in Australia’s history.

Among the many components of the project is a major education precinct unlike anything that has come before it—the “multiversity”.

Meanwhile, lans for Bradfield’s first CBD building were filed in November of 2021—a high-tech advanced manufacturing research and development facility. The NSW government has committed more than $1 billion to the Bradfield City Centre, which is slated for land adjacent to the Western Sydney International Airport.

Residentialdo not useAustraliaReal EstateSector
AUTHOR
Taryn Paris
More articles by this author
ADVERTISEMENT
TOP STORIES
Healthscope Hospital EDM
Exclusive

‘Once-in-a-Decade’ Opportunities Rise in Wake of Healthscope Collapse

Clare Burnett
7 Min
Exclusive

Parking Upsize Threatens Fatal Blow to Project Feasibility

Phil Bartsch
6 Min
One New Zealand Stadium BESIX Watpac
Exclusive

Rising to a Challenge: How BESIX Watpac Topped Australia’s Builders

Clare Burnett
7 Min
Exclusive

Rewards Outstrip Risk in SE Queensland Off-The-Plan Buys

Taryn Paris
7 Min
MONARK co-founders Michael Kark (CEO) and Adam Slade-Jacobson (CIO)
Exclusive

Finding the Sweet Spot: How Monark Built its $2bn Property Empire

Leon Della Bosca
6 Min
View All >
Urban Property Group Waterfront Stage 2
Development

Next Stage of $350m Gosford Scheme Moves Ahead

Leon Della Bosca
Coomera Social Harvest Neighbourhood Centre DA hero
Development

‘High-End’ Neighbourhood Hub for Coast’s Fast-Food Lane

Phil Bartsch
Healthscope Hospital EDM
Exclusive

‘Once-in-a-Decade’ Opportunities Rise in Wake of Healthscope Collapse

Clare Burnett
Investors have been urged to stay the course as healthcare’s fundamentals and emerging new models make a compelling case…
LATEST
Urban Property Group Waterfront Stage 2
Development

Next Stage of $350m Gosford Scheme Moves Ahead

Leon Della Bosca
3 Min
Coomera Social Harvest Neighbourhood Centre DA hero
Development

‘High-End’ Neighbourhood Hub for Coast’s Fast-Food Lane

Phil Bartsch
3 Min
Healthscope Hospital EDM
Exclusive

‘Once-in-a-Decade’ Opportunities Rise in Wake of Healthscope Collapse

Clare Burnett
7 Min
Tasmania is introducing legislation to try move the development of Macquarie Point Stadium in hobart forward.
Infrastructure

Hobart Stadium Planning Sidestep Proposal Goes Public

Renee McKeown
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/greenfield-sale-opens-up-western-sydney-airport-market