$30mil paid for $3mil worth of land

Discussion in 'Politics' started by Lizzie, 22nd Sep, 2020.

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  1. Lizzie

    Lizzie Well-Known Member

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    Nothing in the political ability to waste taxpayers money surprises me anymore ... on all sides of government

    From over $700,000 spent by my local Labor council to renovate the "external only" of a 4 room weatherboard heritage cottage ... to $30mil paid for a paddock worth $3mil by the Liberal federal government (shock horror the owners were major donors) ... throw in all the rorts and troughs in between ... I am no longer shocked. Simply resigned

    https://www.smh.com.au/national/nsw...-airport-s-second-runway-20200921-p55xqp.html
     
    Lizzie, 22nd Sep, 2020
    #1
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  2. Scott No Mates

    Scott No Mates Well-Known Member

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    Just a wild guess. $30m for 12 ha, so $2.5m/ha. I daresay the govt revaluation for book value is way off the mark.

    Just on really rough numbers, as unzoned/future resi land with 20 lots/ha this is only $125k/site.

    @Car tart @lixas4 - isn't this up your alley (large subdivision)? What's raw land worth, services, infrastructure & new lots in say Riverstone as a comparable?
     
    Scott No Mates, 22nd Sep, 2020
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  3. lixas4

    lixas4 Well-Known Member

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    Cant really say, dont know where riverstone is. 2.5m a ha is pretty pricey, i cant remember seeing a price that high on the fringe of melb. Maybe the sales prices of the lots in riverstone are a lot higher than here in melb?
     
    lixas4, 23rd Sep, 2020
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  4. Scott No Mates

    Scott No Mates Well-Known Member

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    Riverstone is the western edge of Blacktown LGA & south-west of the airport. Largely floodprone (sits on the floodplain below Waragamba Dam)
     
    Scott No Mates, 23rd Sep, 2020
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  5. euro73

    euro73 Well-Known Member Business Member

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    Gee...I hope Riverstone is not SW of the new airport. It would mean the airport is being built a long way north east of Badgery's Creek/Luddenham ;)

    Screen Shot 2020-09-24 at 1.23.31 am.png
     
    euro73, 24th Sep, 2020
    #5
  6. Scott No Mates

    Scott No Mates Well-Known Member

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    I can't be expected to be good looking & capable of reading a map. Multi-tasking on this level is waaay overrated. :D

    (NE/SW same same only different :oops:).
     
    Scott No Mates, 24th Sep, 2020
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  7. Car tart

    Car tart Well-Known Member

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    This land was not subdivisable. It was valued as subdivisable land. It’s the usual corruption as there is a back storey between The Perich family and The NSW government on previous largesse.
    They owned a race track and were paid subdivision price plus the price of building a new race track. They never built a new race track.
    All land has been owned Pre CGT days so CGT free. They are a private family so billionaires with no record of the size of their fortune like the Baiada family.
    We sell Raw subdivisable land in Riverstone Rouse hill for $4 million a hectare minimum. This area is not as valuable even if it was subdivisable.
     
    Car tart, 27th Sep, 2020
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