Further details of Mirvac’s acquisition of a 78ha parcel of land forming part of the Elizabeth Enterprise Estate in Badgery’s Creek have been released with the Group paying $130m for the site which settled back in April 2021.
The transaction has only just hit the NSW Land Registry Services and adjoins a 54 ha parcel of land which Mirvac acquired for $70m in August last year, forming part of a larger 254ha parcel under control by Mirvac.
The sites are strategically located on Elizabeth Drive, approximately 800m to the east of the Western Sydney International Airport.
Mirvac submitted a Concept Master Plan in May 2021 for the 54ha parcel along with a Stage 1 Development Plan seeking approval for nine industrial buildings serviced by an internal road network. Mirvac are currently preparing the Environmental Impact Statement to support the application.
The site, along with Mirvac’s nearby Aspect Industrial Estate and the Auburn Switchyards Project, will be the focus of Mirvac’s Warehouse & Logistics $2.0bn development pipeline.
Mirvac secured the land over 5 years ago at a price equal to $130/sqm, un-zoned and un-serviced and are holding the site on the books at $216.7m.
Mirvac are targeting completion in 2024.
Related Articles
