CSR Ltd has a conditional agreement to sell 17ha of its 100ha Erskine Park industrial park on the western outskirts of Sydney to BlueScope Steel Ltd. It’s subject to BlueScope getting development approval for a Colorbond steel centre & servicing, and is due to go unconditional in September 2005.
New South Wales Premier Bob Carr said in May the Erskine Park employment area would be linked to the M& freeway, accelerating development potential in Penrith. The local council is trying to get 6-8000 jobs in the area.
CSR expects to get a net $A125/mÂ² after development costs from the sale.
About half CSR’s site is ready for development and the rest requires regulatory approvals. The company expects to complete development over 3-4 years.