With the completion of the future Western Sydney International (Nancy-Bird Walton) Airport on the horizon, Penrith’s existing and potential employment lands will become more important than ever to drive future economic growth in Sydney.
As the closest city to the new airport, Penrith is set to benefit from the substantial investment associated with the airport’s arrival.
The economic impact of Sydney’s first 24-hour airport and the aerotropolis set to surround it is estimated to be up to $15.6 billion from 2020 to 2050.
The Sydney Metro Western Sydney Airport rail line will make Penrith the first city connected by rail to the airport from day one of operations in 2026, connecting the city and potential investors to a raft of opportunities
Penrith’s Northern Gateway precinct, within the aerotropolis, will become a hub for manufacturing, warehouse and distribution functions.
Celestino’s Sydney Science Park development, inside the precinct, will offer scope to create a vibrant and well-connected mixed-use centre.
The precinct will provide excellent connectivity, with a metro station at Luddenham delivering a direct line to the airport.
The Mamre Road Precinct covers around 850ha of industrial land within the aerotropolis.
This precinct is expected to attract freight and logistics companies wanting to capitalise on the proximity to the airport.
Interest is already high from developers such as Mirvac and Frasers Property who are planning to create large industrial estates in the precinct.
Penrith’s opportunities for future employment growth extend well beyond the aerotropolis. Penrith City Council’s draft Employment Lands Strategy (ELS) identifies three economic corridors that will generate significant employment during the next 20 years.
The East-West corridor, from St Marys in the east to Emu Plains in the west, is already home to much of the city’s economic output.
There remain opportunities to enhance this offering, with Penrith Council itself investing in future industrial capacity.
Earlier this year, the council announced it had purchased a 16ha site in Emu Plains which it hopes to subdivide to improve the supply of medium-sized industrial lots in the region.
Penrith Mayor Karen McKeown said she was excited by the potential of this site to boost the local economy and create around 300 to 350 jobs in the city.
“This is a great opportunity for Penrith to attract investment to our city and inject $36.4 million into our local economy each year,” she said.
In addition to the huge employment generating potential of the city, Penrith has and will retain unique natural landscapes.
With a western scenic corridor that captures the Nepean River and Penrith Lakes, the ELS points to the potential opportunities these open spaces and recreational spaces provide.
Major investment by all levels of government will see the delivery of improved amenity along the banks of the river, including the $24-million redevelopment of Regatta Park and the $10-million investment in Tench Reserve.
Penrith Council has also partnered with the NSW government to fund a $12-million City Park, creating a significant green space in the city centre.
These city-shaping developments will add to Penrith’s attractiveness as a place to live and work.
With more than 4000ha of existing and potential employment land in the city, Penrith has a once in a lifetime opportunity to be a leading generator of Greater Sydney’s future productivity.
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