According to a land developer, Sydney’s savvy commercial buyers should be looking to the skies.
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In Sydney’s ongoing quest to transform its western suburbs into a property honeypot, a lot of attention has been on residential densification around the new metro corridors. But according to greenfield developer BC Land, commercial investors might be better to set their sights on the new airport.
“The development of Western Sydney International Airport is attracting a range of businesses that will create an employment hub that will in turn lead to residential developments nearby,” reported BC Land’s CEO, Nils Miller.
While these businesses started out being primarily centred on the aviation industry, he noted that the area is increasingly becoming a magnet for a more varied range of businesses.
Eventually, Mr Miller predicted that these airport-focused employment hubs could create entire new cities, and add much-needed supply to Australia’s housing market.
The developments around Western Sydney International Airport are still in their early days, but BC Land believes that current trends at their Badgerys Creek site could provide a glimpse into the future of aerotropolis developments.
According to Mr Miller, the group’s greenfield commercial site “is already receiving expressions of interest from partners and tenants”. He cited lower rental rates as a major drawcard for businesses seeking to set down roots in the vicinity.
With the M7 and M12 motorways within easy reach, he revealed that transport providers are some of the earliest takers. “We already have interest from providers of freight services and logistics along with light manufacturers seeking to service these as well as other aviation services,” he shared.
Current data predicts that Western Sydney Airport will service up to 10 million passengers per year. As of June 2023, over 50 per cent of the airport has been built, and 25 million cubic metres of earth have been moved, making it the biggest earthmoving project in Australia.
BC Land reported that tunnel boring machines have already begun work on the Western Sydney Airport metro line that will connect airport passengers to the metro station at nearby St Mary’s.
The uptake of interest from commercial developers has spiked since Qantas announced its commitment to servicing the new airport, with the airline promising to house 15 aircraft at the terminal in the first year of operation.
Once completed in late 2026, the airport is predicted to provide 700 operational jobs and create significant business opportunities in the city of Bradfield.
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