_A new airport for Australia’s gateway city
Western Sydney Airport is strategic for so many reasons, but fundamentally it is this: as Australia’s gateway city for inbound migration of investment, population, goods and services, we are in need of a 24/7 airport that can connect Australia to the most lucrative and competitive international markets at any hour of any day.
During this episode of our podcast, Mark Litwin, Associate Director, Investment Sales, Metropolitan NSW, discusses the plans for the land around the new Western Sydney Airport with Mark Grayson, Director, Town Planning, NSW. They explore the strategic approach to the airport planning, related Government announcements, rezoning of precincts, and the value and liquidity of associated developable land.
869-885 Luddenham Road, Luddenham is a property we currently have available within the precinct.
This is a nation-building exercise taking place in Sydney’s back yard, and its attracting large volumes of domestic and international investor interest.
The 2020 calendar year, despite COVID-19, has seen numerous high value Government announcements for Aerotropolis that have changed how investors and stakeholders are involving themselves, compared to just 12 months ago.
Announcements for the new North South Rail Link corridor, location announcements for its new train stations, the formal rezoning of 6 of the 10 precincts, and now most recently the exhibition of the Draft Precinct Plans, have continued to add value on a rate per meter basis, for developable land.
As is always the case in emerging precincts, the progression of the land use planning framework is benefiting some, but not all, stakeholders, and some have woken up to a forceful announcement that their properties no longer have the liquidity they did the day before.
The Draft Precinct Plans have allocated considerable land supply towards permanent flora and fauna corridors, green space to tackle future urban heat, and riparian setbacks that are larger than traditional government requirements. The view of the marketplace is that State Government is prioritising long run environmental benefits ahead of the publicly stated desire to increase private development and employment opportunities for Western Sydney.
By and large, the market anticipates that the Draft Precinct plans will be gazetted as presented, and this land supply will be the basis for trading and development well into the future.
Knight Frank is pleased to host an Open House for land owners and new investor stakeholders, to unpack the nuance around the new consolidated land supply.
Where: 205 Adams Road, Luddenahm NSW
When: 4-6pm, Wednesday 19 May, 2021
Dress Code: Casual
Format: Casual
Special Guest: Phil Dias, Business Development, Western Sydney Airport
Teams from Knight Frank Town Planning, Knight Frank Advisory, Knight Frank Capital Markets and Urbis Valuations will also be in attendance.
Guest levels are limited due to current COVID room restrictions, so please RSVP on or before Friday 14 May 2021 via the link below.