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Artist impression of the developed aerotropolis. Artist impression of the developed aerotropolis. Featured
15 February 2021 Posted by 

AEROTROPOLIS BLOCK TIPPED TO HIT $75M+

Site tests demand in Western Sydney
A 20HA block of two parcels of land located within the Aerotropolis precinct that was once bought for $141,000 is tipped to sell for $75m to $80m.
Located in the Mamre Rd development area, it will test demand in the Western Sydney market.
 
The amalgamated site at 244-270 Aldington Rd in Kemps Creek spans two titles and is being sold as an amalgamated offering.
 
Property records show the 244-256 Aldington Rd site last sold in June 1980, for $77,400. The 258-270 Aldington Rd 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 3.96ha farm at Badgerys Creek for $14.5m.
 
The 205 Lawson Dve purchase signaled 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 Rd are now selling following the recent rezoning of the precinct and exhibition of the draft Mamre Rd Development Control Plan.
 
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.
 
A surge in demand for logistics space has been seen in recent times. Frasers Property Industrial and Altis Real Estate
Trust will develop 118ha of industrial land, spanning properties from 649-to-763 Mamre Rd, at the Mamre Rd Precinct.
 
The joint venture team follow listed-developer Mirvac, which has its own plans for a 56ha industrial estate within the Mamre Rd area after buying the site for $71m in late 2018.
 
The Mamre Rd precinct spans 850ha and is one of 10 key precincts in the Western Sydney Aerotropolis.


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