Chinese-backed property developer Boyuan plans to develop new town near west Sydney planned airport Badgerys Creek

ASX-listed Chinese-backed property developer Boyuan Holdings has teamed with Westfield shopping centre owner Scentre Group and the Western Sydney University to create a major new town in western Sydney near the planned airport at Badgerys Creek.

Boyuan’s other projects include a resort in Pokolbin in the NSW Hunter Valley and residential and commercial projects in Bringelly and Marsden Park in Sydney’s west. It also last year bought the Peachtree Hotel in Penrith.

In a submission to the Greater Sydney Commission, the group set out opportunities for a 344ha landholding just north of the Western Sydney Airport site.

The project could house 22,250 residents on the site, with a mix of medium-density development ­including residential, retail, short-term accommodation and commercial space.

The group hopes to deliver 38,000 jobs through the project, focused on knowledge-intensive industries and concentrated near the train station.

The master plan allocates 880,000sq m to “mixed living”, as well as 120,000sq m of accommodation including student housing and 200,000sq m of educational space. The residential component could include terrace housing and mid-rise apartment blocks, integrated with commercial and public space.

The project would also feature 300,000sq m of office space, 200,000sq m of retail, a hospital, an international convention centre, hi-tech manufacturing and logistics uses.

But the developer suggested moving the proposed M12 road, which on current projections would “significantly fragment” the site, and instead said the road should run along and within the site’s northern boundary.

The group also argued that the North-South Rail Link should have a below-ground station connected to the surrounding amenity. Transport on the site could include a futuristic combination of high-speed rail, autonomous light rail, autonomous buses, rental bikes, car-sharing apps, drones or automated freight and electric networked vehicles.

Community infrastructure could include a theme park, swimming pool, multipurpose courts, an oval and athletics track, a park, a skate park, markets, community gardens, cafes, bushland and water activities.

BHL also said it had struck strategic services agreements with Cyan Stone, which is buying the Badgerys Creek site, and Citron Investment to manage and deliver development projects on land held by the two companies.

The agreements included 27 ongoing land development projects and apply retroactively from July 1 last year, the group said.

BHL reaped $2.33 million in fees from the projects over the fin­ancial period to December 31. “BHL will utilise our development expertise to be applied to Cyan Stone and Citron Investment’s existing and future property projects in Australia,” BHL chief financial officer Ian Clark said.

Source: https://www.theaustralian.com.au/business/property/boyuan-plans-to-develop-new-town-in-western-sydney/news-story/d47320a1d67790081575cc1382887637

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