Developers eye Western Sydney block on new airport’s doorstep
More than 250 land bankers and developers are eyeing a significant land parcel on a major thoroughfare to the Western Sydney Airport and Aerotropolis.
No. 6 Carrington Rd in Bringelly sits on 1.82ha of land and is being marketed as a major investment opportunity in the South Creek West land release area.
The property with a two-storey house and swimming pool is being offered via expressions of interest and is set to sell for upwards of $4.5 million, based on recent sales in the area.
A mixture of commercial and residential developers have been made more than 250 inquires about the property since it launched last week. Colliers International manager Nick Estephen says he is receiving a wide buyer pool because everyone is waiting in anticipation as to what can be built on the land.
The South Creek West corridor is due to be rezoned shortly.
“The value of the land can only go up for here, so even if someone buys it and can’t use it for what they want, they still stand to make much more money in the coming years,” he says.
The major attraction of the property is due to it being located in the South Creek West corridor, which is one of the next areas to be rezoned around the airport precinct.
“It is about to be rezoned at any moment in the next few years, and could come sooner based off recent news the government plans to fast track development around this area,” Estephen says.
The Western Sydney Airport is due to open in 2026.
“This is one of the best sites in the area due to it being positioned on a major road that heads to the airport and will be surrounded by $15 billion of worth of infrastructure and investment.”
The area, which is set to accommodate a population of more than 1.5 million people by 2036, is experiencing immense growth, with the CSIRO planning to build a research hub and Amazon committing to a 200,000sqm robotics fulfilment centre within the Aerotropolis.
The address is currently tenanted for a gross income of $1000 per week and is one of the only land banking opportunities presently available in the area. Mr Estephen said despite lots of interest from buyers, he expects limited properties to be available in the corridor for some time.
No. 6 Carrington Rd in Bringelly is located on one of the major roads that leads to the Western Sydney Airport.
“Most of the locals have been here their entire life and holding off to see what happens from a zoning point of view,” he said.
Estephen, along with his colleagues Joe Sacco, Thomas Mosca and Harry Bui are seeking expressions of interest on the property until August 11.
This article from the The Daily Telegraph originally appeared as “Bringelly landholding on doorstep of new Western Sydney Airport to be popular with land bankers”.
