Sydney’s Bankstown and Camden airports will be put up for sale as current leaseholder BAC Holdco steps out of the general aviation market.
The two airports were privatised in 2003 and are held under a long term lease from the Commonwealth government with 85 years remaining.
BAC, which represents a number of institutional investors, purchased the lease on the two airports for $211 million as part of a package that also included now defunct Hoxton Park. The company is likely to seek a substantial profit on the sale.
Bankstown Airport has emerged as a significant commercial property development, deriving income from more than 170 aviation, retail, commercial and industrial tenants. It also hosts over 240,000 aircraft movements annually.
Camden serves as a recreational aviation hub for gliding, ballooning and light aircraft.
Officials at both airports said operations would not be impacted by the sale. BAC Holdco said it would offer the airports as a package and has appointed Grant Samuel Corporate Finance as its financial advisor.
Steer your own in-flight experience – available on print and digital Whether our classic glossy magazine in your letterbox, daily news updates in your inbox, peeling back a few layers in the podcast or our monthly current affair reports, you can count on us to keep you up to date. Sign up today for just $99.95 for more exclusive offers here. Subscribe now at australianaviation.com.au.