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.
