Bankstown Airport for sale.
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Bankstown Airport for sale.
Folks,
I am surprised that there is not already a thread on this (haven't missed one, have I?) , but Bankstown and Camden are up for sale.
I wonder will the Minister enforce the terms of the Commonwealth Lease --- or go along with so called "light handed regulation", which is, in reality, close to open slather for developers.
Tootle pip!!
I am surprised that there is not already a thread on this (haven't missed one, have I?) , but Bankstown and Camden are up for sale.
I wonder will the Minister enforce the terms of the Commonwealth Lease --- or go along with so called "light handed regulation", which is, in reality, close to open slather for developers.
Tootle pip!!
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There was an article in yesterday's AFR about the sale. Price expected is above $195m for an annual return of about $19m and the possibility of further developing the land identified as not required for the airport itself subject to the lease from the Feds for another 82 years.
I don't know what commercial returns are required on commercial property these days although I thought most companies looked for about 15% so they might be looking for a buyer for a while, or not as the case may be.
Perhaps the users may like to consider a consortium to purchase them. After all, even on a 10% return it is probably better than what they are achieving through aviation.
I don't know what commercial returns are required on commercial property these days although I thought most companies looked for about 15% so they might be looking for a buyer for a while, or not as the case may be.
Perhaps the users may like to consider a consortium to purchase them. After all, even on a 10% return it is probably better than what they are achieving through aviation.
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Raptor, I would guess a lot sooner than ten years.
The next couple of months will decide the fate of GA in Australia.
Unless there is an acceptance by our political masters that what has occurred the past few years has been a complete, corrupt, total waste of Taxpayers money.
Unless they write it off and start again, there is very little hope.
GA will go the same way it has gone in Europe.
The only consolation is NZ is not that far away for the junkies who cant do without their aviation fix. A shift to NZ is already happening and will accelerate as the cost and consequences of our regulatory regime continue to bite.
Our GA airports and their future was always going to end in tears.
They were never viewed by anyone except those involved in aviation as public utilities.
They were always those huge blocks of vacant land begging for development, there was never any hope an impoverished GA industry could counter the development sharks money.
I've had people say the airport act prevents it, yet they closed Hoxton Park, declared it freehold sold it to Woolworths and Mc Bank got all the money they spent on the three airports back and no doubt paid no taxes and charges.
Why does anyone imagine they couldn't do the same with Bankstown.
A billion dollars buys a lot of votes.
The next couple of months will decide the fate of GA in Australia.
Unless there is an acceptance by our political masters that what has occurred the past few years has been a complete, corrupt, total waste of Taxpayers money.
Unless they write it off and start again, there is very little hope.
GA will go the same way it has gone in Europe.
The only consolation is NZ is not that far away for the junkies who cant do without their aviation fix. A shift to NZ is already happening and will accelerate as the cost and consequences of our regulatory regime continue to bite.
Our GA airports and their future was always going to end in tears.
They were never viewed by anyone except those involved in aviation as public utilities.
They were always those huge blocks of vacant land begging for development, there was never any hope an impoverished GA industry could counter the development sharks money.
I've had people say the airport act prevents it, yet they closed Hoxton Park, declared it freehold sold it to Woolworths and Mc Bank got all the money they spent on the three airports back and no doubt paid no taxes and charges.
Why does anyone imagine they couldn't do the same with Bankstown.
A billion dollars buys a lot of votes.
When Badgerys Creek opens the associated airspace will effectively close YSBK. I'm betting YSBK operators will be given the choice of moving to YSCN or Badgerys Creek. Bankstown will look very much like YHOX does now.
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When Badgerys Creek opens the associated airspace will effectively close YSBK. I'm betting YSBK operators will be given the choice of moving to YSCN or Badgerys Creek. Bankstown will look very much like YHOX does now.
Just as two examples, have a look at Los Angeles or London EGLL.
Tootle pip!!
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LeadSled,
Yes, we know it doesn't HAVE to be the case - but...
The salivating developers' detailed plans for YSBK were drawn up years ago.
When Sydney West inevitably gets the go-ahead, the right words in the right ears (not to mention the 'handshakes') will seal the deal
in the interests of 'Public Safety'.
GA will effectively be dead by then and Third Level operators will be shoved out to Badgery's.
Besides, where else are we going to put Sydney's burgeoning Middle Eastern population?
They've gotta stay within coo-ee of the Lakemba Mosque, y'see.
Am I being cynical or just pragmatic?
Yes, we know it doesn't HAVE to be the case - but...
The salivating developers' detailed plans for YSBK were drawn up years ago.
When Sydney West inevitably gets the go-ahead, the right words in the right ears (not to mention the 'handshakes') will seal the deal
in the interests of 'Public Safety'.
GA will effectively be dead by then and Third Level operators will be shoved out to Badgery's.
Besides, where else are we going to put Sydney's burgeoning Middle Eastern population?
They've gotta stay within coo-ee of the Lakemba Mosque, y'see.
Am I being cynical or just pragmatic?
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Those same salivating developers have been eyeing off Essendon & Moorabbin for years as well. Imagine how much the land at Essendon is worth now, if carved up for housing. Same for Moorabbin. Wonder if its just a matter of time before they head the same way.
Hopefully I've got these calculations right for Moorabbin and Essendon.
Moorabbin is 725 acres - 20% for roads and parks = 580 acres x 10 blocks per acre is 5,800 blocks @ $1,150 per sqm (450sqm avg) @ $517,500 per block = $3b. (not sure if that includes DFO, the business park and Costco)
Essendon is 750 acres - 20% for roads and parks = 600 acres x 10 blocks per acre is 6,000 blocks @ $1,400 per sqm (450sqm avg) @ $630,000 per block = $3.8b (not sure if that includes Police facility and DFO)
That's the RETAIL cost of the land and not including the money involved in the housing component. Take away the developments costs and margins and you're still left with a bucket load of cash that you will NEVER make out of a few sausage factories doing circuits. This is why they built the business park, DFO and Costco (about to be built at Moorabbin); they all help to pay the rates which are no doubt applied at a rate that somewhat reflects the value of the land.
It's only a matter of time !
Moorabbin is 725 acres - 20% for roads and parks = 580 acres x 10 blocks per acre is 5,800 blocks @ $1,150 per sqm (450sqm avg) @ $517,500 per block = $3b. (not sure if that includes DFO, the business park and Costco)
Essendon is 750 acres - 20% for roads and parks = 600 acres x 10 blocks per acre is 6,000 blocks @ $1,400 per sqm (450sqm avg) @ $630,000 per block = $3.8b (not sure if that includes Police facility and DFO)
That's the RETAIL cost of the land and not including the money involved in the housing component. Take away the developments costs and margins and you're still left with a bucket load of cash that you will NEVER make out of a few sausage factories doing circuits. This is why they built the business park, DFO and Costco (about to be built at Moorabbin); they all help to pay the rates which are no doubt applied at a rate that somewhat reflects the value of the land.
It's only a matter of time !
Tullamarine and Essendon are 9.6 NM apart !
I'll bet in the Essendon hey-day there were a lot of moments; nowadays it seems like a few bizjets coming and going.
I'll bet in the Essendon hey-day there were a lot of moments; nowadays it seems like a few bizjets coming and going.
Clearedtoreenter: ridiculous idea. It's way to logical and practical for those who call the shots. And it might just save GA's arse, which would never do 
Essendon, I'm told, in its heyday was very busy. Long after its heyday, late70s - 90's, I remember it still doing a roaring trade. It was a great airport.
pithblot
Essendon, I'm told, in its heyday was very busy. Long after its heyday, late70s - 90's, I remember it still doing a roaring trade. It was a great airport.
pithblot
Bankstown Airport for sale.
The airspace could be designed to work based on overseas models, but we're talking Australian Airspace. Do as I did, draw some airspace steps using the same dimensions as YSSY on Badgerys and you'll see what I'm basing my comments on. For years various organisations have been lobbying to reduce the dimensions of YSSY without success, so I can't see why they'd reduce them now. In any case, moving YSBK YSCN operators to Badgerys would provide the developers some income pending airlines establishing their roots there.
The Army don't need it, they fly helicopters these days !
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Holsworthy will always be out, firstly, the army wont give up their prime training ground easily, especially considering the current global climate with religious fanatics. and secondly, the landscape isnt exactly flat, currently at 800 mtrs, it takes up pretty much all the flat useable area already. it runs across the ridge rather than along it.
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Considering the Holsworthy airfield (maybe better described as a heliport with a VERY short runway) and surrounds plays host to arguably the second most important military unit in Aus (2nd Commando Regt i.e TAG - East) and its associated aviation assets, there's 2 chances of it ever being developed as a civilian airfield. F%#k all and none.
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I see the occasional Blackhawk hanging around there, maybe once or twice a week but that's about all.
and also, dont forget its surrounded by live fire ranges on 3 sides.
Can anyone recall the sale price of Hoxton Park?
Its my understanding legislation requires certain airfields remain airfields. Any clarification on this? I believe BK at least must remain as such.
Its my understanding legislation requires certain airfields remain airfields. Any clarification on this? I believe BK at least must remain as such.
Couple of supplimentaries:
Anybody have a view as to whether the Wagner family could be a possible buyer? Possible tie up with their TWB operation?
Bigger question: say hypothetically a consortium of aviation people raised the capital and became the owners, what would YSBK need to look like & how would/ could it generate the majority of its revenue as a profitable airport & aviation asset? Does it need to become another London City airport to effectively stave off the pressure of continuing as simply a property development venture?
Anybody have a view as to whether the Wagner family could be a possible buyer? Possible tie up with their TWB operation?
Bigger question: say hypothetically a consortium of aviation people raised the capital and became the owners, what would YSBK need to look like & how would/ could it generate the majority of its revenue as a profitable airport & aviation asset? Does it need to become another London City airport to effectively stave off the pressure of continuing as simply a property development venture?