South West Sydney has been identified as a key growth corridor for Sydney over the coming decades – and the Government is certainly helping to accelerate this growth over the short term.
Construction of Sydney’s second airport at Badgerys Creek is due to kick off at the end of this year. When it opens the airport is expected to have 5 million passengers in its first year and provide an additional 27,000 jobs to the local economy.
Badgerys Creek and surrounding suburbs have been identified as a 3rd city of Sydney, complete with its own CBD (along with Parramatta and the traditional CBD in the east) according to the 3 cities plan unveiled by the Greater Sydney Commission late last year.
In the 2018 Federal Budget, it was announced the Federal Government has established WSA Co (Western Sydney Airport) to develop the Badgerys Creek Airport project and has provided an equity investment of up to $5.3 billion in WSA Co to fund the first stage of airport development, due to commence operations by 2026.
The Federal and NSW State Governments have also announced they would jointly fund a $7 billion north-south rail link which would connect the Badgerys Creek Airport to the Sydney train network. Prime Minister Malcolm Turnbull said: “the objective [for the Badgerys Creek rail link] is to have the rail open and operating when the airport opens” in 2026.
Last weekend, we took a group of our investors on a bus tour of South West Sydney, allowing investors to step foot on the site of the future Badgerys Creek Airport prior to construction, and explore a total of $15+ billion of planned infrastructure projects.
Our Property and Research team also delivered a seminar on the 8 key reasons to invest specifically within Edmondson Park, one of the suburbs which falls within Sydney’s South West growth hotspot.
“We thought we’d take the opportunity to let our investors see firsthand the tremendous amount of infrastructure and development happening in this South Western hub of Sydney and provide some insights into why we think Edmondson Park is the suburb which shows such strong potential,” said Ironfish National Apartments Manager, William Mitchell.
“The tour was very well received by our investors, so much so that we’re planning to run it for a second time next weekend. We encourage all Sydney investors to attend.”
If you’d like to secure your last chance for a guided tour of South West Sydney and visit the site of Badgerys Creek Airport before construction starts, please contact us either of our Sydney offices – located at North Sydney or Burwood – to register your interest.