Poultry farm near airport sells as development site
A poultry farm near the future airport at Badgerys Creek in Sydney’s west has sold for $14.5 million to buyers in the food industry who have earmarked the site for future industrial development.
The 3.96 hectare block is the first site to have been sold since the NSW government this month gazetted the rezoning of 6500 hectares of land as part of five “priority precincts” in the Western Sydney Aerotropolis to provide for employment, residential and environmental uses.
NSW Minister for Planning and Public Spaces Rob Stokes has said the rezoning of the Aerotropolis Core, Badgerys Creek, Northern Gateway, Agribusiness and Wianamatta-South Creek would provide the potential for 100,000 new jobs as well as homes to 30,000 residents once fully developed.
The poultry property, at 205 Lawson Road, was sold to two families in the food industry – the Barba and Putrino families – who plan to operate their own businesses on the land and speculatively develop it into an industrial site.
The block has been earmarked to be rezoned for flexible mixed use/employment purposes.
CBRE’s Elijah Shakir, Andrew Sukkar and Fabio Screpis negotiated the sale.
Mr Shakir said the sales campaign had attracted significant interest because of the scale of the site and its proximity to the new airport, which is due for completion in 2026.
“We have a number of mandates from buyers seeking similar sites to capitalise on opportunities associated with the development of the airport and surrounding government infrastructure totalling over $5.25 billion,” Mr Shakir said.
He said the site benefited from good access to major transport routes, which would be enhanced by the proposed North-South West Rail, M12 Motorway and M9 Orbital.
The sale equates to a new record pricing of $366 a square metre, which highlights the demand for land in the area among both owner-occupiers and institutional investors looking for sites that have potential to be redeveloped into industrial property.
“The transaction sets a new benchmark for the Badgerys Creek precinct, representing a 28 per cent uplift on the previous record set two years ago when the Aerotropolis precinct maps were first issued,” CBRE’s Mr Sukkar said.
