- 10ha property in Aerotropolis area sells for $30m+
- Previously owned by the Sydney Society of Model Engineers
A 10-hectare property within the Western Sydney ‘Aerotropolis area’ has sold for over $30million in a deal negotiated by Knight Frank.
The property, located at 869-885 Luddenham Road in Luddenham, had been owned by the Sydney Society of Model Engineers (SSME) since 1970.
The SSME had run their operations from the Luddenham site for the last 50 years, which was affectionately known as The Model Park.
The Society dates back to 1906 and boasts the titles of Australia’s oldest Model Engineering Club, and the world’s oldest continuously operating Model Engineering Club.
The property was sold to private investors following an Expressions of Interest campaign launched by Knight Frank directors, Mark Litwin and Grant Bulpett.
The site offers a substantial frontage of 180 metres, and a prime location with a vicinity of three kilometres to both the Western Sydney Airport main entrance and M12 Motorway entrance.
Knight Frank director Mark Litwin said they experienced intense demand for the property during its campaign and had prospective buyers both nationally and internationally.
“This was a super premium site in a superior position within the Northern Gateway Precinct, situated close to the main entrance to the new terminal, surrounded by the new motorway network, with a large site area, relatively flat and a huge ratio of developable land.”
Mark Litwin, Knight Frank
Mr Litwin added that Knight Frank took pride in the opportunity to represent the Society.
“Their long-run needs to financially and contractually protect the next 100 years plus of their existence was always front of mind for us,” he said.
David Kennedy, Chairman of the Board of the Society, said he felt the timing was right for the Society to sell the property, due to the development underway within the Aerotropolis area.
“The board and the society’s members are understandably delighted with the outcome.”
David Kennedy, Sydney Society of Model Engineers
According to Mr Kennedy, the Society will continue its search for a new home for the Model Park.