There’s an Ad on p16 of today’s Sydney Morning Herald (Weekend Business Section) for Bankstown Airport …Colliers International is offering for sale a 33.3% equity stake in the lease hold land surrounding the airport that is approximately 76.36 hectares. The zoning on the land is flexible and permits numerous development opportunities such as industrial, retail, bulky goods, commercial
and aviation [emphasis added]. Please call us for an Information Memorandum.
•76.36 hectares
•Sale of 33.3% equity stake in the land
•Zoning permits industrial, retail, bulky goods,Anyone know what’s going on here?I hadn’t seen anything about this previously. Is this one of the syndicate partners pulling back?
Have a close look at the advertisement, please.The land depicted, with one third being offered,
IS NOT the land operated by Bankstown Airport Ltd, BAL, as Bankstown Airport, YSBK.The land depicted is “owned” by BAC/DEVCO, a different company to BAL, shareholders are similar
BUT NOT the same. All three (major) shareholders ofBAC/Devco are looking rather sickright now, as are so many property developers, so it could be any or all of them looking to bring in aone third “shareholder” to pay down an/the existing debt.Of great interest, and very obscure in terms of the original head lease from the Commonwealth toBAL, isquite how the “sale” — (a sublease toBAC/Devco, I assume – but not necessarily so) squares with the requirements of the various pieces of legislation that are relevant.Thus, all the “
aviation comes first” provisions probably do not apply to “Devco”, because it is not BAL. Just about any sizable block on the whole original site is “Devco land”, including probably the aircraft parking areas along Marion St, and the old NCOs Mess/barracks/RAC-NSW site, not just the land on the south side of the runways.
What we do know is that it was all a “done deal”, including closing 18/36, before the sale of the 50 + 50 lease, by the Commonwealth to BAL, was completed.
How do we know?, because a senior executive of BAL said so, in front of many witnesses. I doubt he intended to let the cat out of the bag, but he did!!
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Bankstown for sale??
Bankstown for sale??
The issue of aviation in this appears to have been missed, according to the article in yesterdays Financial Review [26th May 2015].
That this absolute and demonstrable hit at the nations primary infrastructure.
That a large area of the land has had issues raised as to:
There have been a series of issues raised over time, which are in part summarised here.
Of course the effect of the people behind the current dilemma must be remembered.
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The current AFR article is below:
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A selection of comments and articles are below:
From 2009, the following notations were made:
In 2010 this appeared:
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