One of the last remaining zoned land parcels in the Aerotropolis Core in Western Sydney is up for sale via an International Expressions of Interest campaign.
The 10-acre property at 125 Mersey Road at Bringelly currently has a house on it, as well as various other structures, but it will be redeveloped following its sale.
It is expected to be highly sought after by buyers during an International Expressions of Interest campaign launched today that will be run by Mark Litwin and Grant Bulpett of Knight Frank on behalf of a private family.
Mr Litwin said the rectangular-shaped, relatively flat site had no riparian setbacks and flexible enterprise zoning permitting a wide range of high value uses, while the generous site area of 10 acres also permits multiple built form outcomes.
“The block has received excellent planning outcomes with rezoning and draft precinct planning,” he said.
“The Enterprise zone is flexible and modern to suit a precinct that revolves around international trade and commerce coming from a twenty-four/seven global gateway.
“Smaller blocks around the Western Sydney Airport trade very well given their relatively smaller price point.
“We’ve already seen the examples of some first round investors selling. It’s a very liquid market now.
“While investors are profiting from sales, this land is still hugely undervalued in comparison to its full potential once the airport has matured, providing opportunity for buyers to capitalise.
“Our last deal for 25 acres in the Aerotropolis pushed us up well over $30 million, but we are yet to see what the market has to say about a smaller block before Christmas.”
According to RESourceData, a number of 2ha parcels of land in nearby Lawson Rd, Badgerys Creek Rd and Elizabeth Rd have sold since July 2021 for rates of $400/sqm to $560/sqm.
Mr Bulpett said the property occupied a strategic location within the Aerotropolis Core Precinct, benefitting from current and future transport development.
“It has efficient access to multiple modes of existing transport including the M7 and M4 Motorways, as well as the potential for strong uplift from future transport corridors including M12 Motorway and North South Rail Link,” he said.
“There’s plenty of transport infrastructure development underway. The incoming Eastern Ring Road will be one of the major commuter and trade corridors that connects Elizabeth Drive to Bringelly Road.
“125 Mersey Rd has direct frontage onto this new vital corridor; one of a very few given its size, which has a major positive implication including future signage opportunities, and general location awareness.
“Western Sydney continues to expand at a rapid rate with announcements from multiple levels of government for ongoing investment into transportation infrastructure initiatives, including future rapid transport links for road, rail and air networks, and land releases.
“On the back of this growth, the Aerotropolis Core has emerged as the pre-eminent precinct for sophisticated developers and land investors alike, due to the large site areas, and resultant limited acquisition opportunities.”
Mr Litwin said the Bringelly site would be a natural benefactor of the $5.6 billion dollar Western Sydney Airport.
The land parcel is just seven kilometres from the entrance to the airport, three kilometres from the cargo terminal and two kilometres from the new Bradfield CBD.
“The cargo terminal at the southern end of the airport is where we will see major activity in the next few years,” Mr Litwin said.
“As a global freight hub, cargo will drive the Western Sydney Airport from start to finish,” he said.
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