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Sale of Bankstown and Camden Airports

First State Super and Altis Property Partners have acquired the holding company for the interests in Bankstown and Camden Airports from the existing institutional owners. The Airports are held under leasehold from the Commonwealth Government with 37 years remaining (including a 49 year option).  The Airports will continue to be operated under the terms of the leases and in accordance with the existing Master Plans.

The Airports are currently going through a significant expansion phase with the recently completed warehouse /office complex for Globus, the construction of a new NSW Ambulance Aeromedical Rescue service facility, significant refurbishment of the former Boeing Australia site on Milperra Rd and, subject to the approval of a Major Development Plan, the development of a $160m Bankstown Business Estate in the south / west sector of Bankstown Airport.

'With the current and future activities planned for our airports this is an exciting time to be working with the new owners and will enable BACA to continue to invest in the growth of the airports and to maintain them as Australia’s pre-eminent multi-use general aviation airport group’ said BACA CEO Colin Grove.

Attached is a link to an article from the Australian Financial Review of 2 December 2015 in respect of the sale which contains comment from First State Super and Altis Property Partners.