A developer in Western Sydney has acquired a 31ha parcel of land in Luddenham $33m with the M12 Motorway planned to dissect the lot.
The M12 Motorway will ultimately be the main access to and from the Western Sydney International Airport at Badgerys Creek to Sydney’s motorway network with a final design report currently on exhibition.
Notwithstanding the plans, Goldmate settled the acquisition of the site at 777 Luddenham Rd for $33.0m on 4th November, reflecting a rate of just over $1.0m per hectare.
The M12 Motorway corridor is likely to consume approximately 15ha of site, leaving 15 ha of land for future development.
The developer, Goldmate is an experienced residential developer in Sydney with house & land projects in Riverstone, Box Hill, Kellyville and The Ponds.
Goldmate are yet to respond to our enquiries.
Development of the site may be difficult. The design of the M12 appears to cut off access to the balance of the the site from Luddenham Rd, which increases the likelihood of the Government resuming the whole parcel unless access agreements can be made with adjoining owners.
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