Major Pharmaceutical Company Invests in Aerotropolis
Australian medicine manufacturers Vitex Pharmaceuticals has planned to expand their presence in Western Sydney by building a new pharmaceutical training and research facility at the Western Sydney Aerotropolis.
Building upon their $100 million manufacturing facility which opened in 2017, Vitex is a true Western Sydney success story.
NSW Minister for Trade and Industry Niall Blair said this decision would cement Vitex’s role as an industry leader and Western Sydney’s reputation as a world leader in complementary medicines manufacturing.
With the Asia-Pacific region set to become the second largest medtech market in the world, a presence at the new Western Sydney Airport precinct means Vitex Pharmaceuticals is well placed to grow their international footprint with significant export opportunities.
For more opportunities on investment around the Western Sydney Aerotropolis, see our New West prospectus.
Pictured: NSW Goverment welcomes Vitex to the WSA Areotropolis
Local Jobs Increase for the Seventh Year in a Row
Council’s charter to grow the economy and deliver more local jobs is well on track, with recent data from the National Institute of Economic and Industry Research (NIEIR) showing a 4.27% increase in year ending June 2018, outperforming the NSW average of 2% growth.
While Health Care & Social Assistance is the perennial leader in our area, there has been excellent growth across Construction and Retail Trade, showcasing the breadth of skills available in the New West.
With over 10,000 new jobs created in the last five years, Penrith is not only continually growing, but is poised to be the engine room of the Western Sydney Airport and Aerotropolis, as well as the north-south growth arc - one of Sydney’s most significant economic corridors.
Home to the workforce of the future with 32.9% of the population under the age of 25, more and more businesses are looking to support their own future growth by investing in Penrith.
Pictured: NIEIR jobs data, Penrith City
Investors Circle Local Shopping Centre
Cranebrook Village Shopping Centre has recently beensold to a private investor for a record $48.1 million – well above the asking price.
Over 270 expressions of interest were received from both local and international investors, showcasing that interest in Penrith as a desirable area for business investment is on the rise.
With 4,000ha of land at the entrance to the Western Sydney Airport available as part of the Northern Gateway Precinct, as well as 47.8ha of Council owned land in the Penrith city centre, opportunity to be part of this sustainable growth area won’t last long.
With the successful test of trackless trams in China in 2018, Penrith is looking to this technology as an option to help bring together our two major city centres.
At the forefront of innovative transportation, trackless trams (also known as autonomous rail transit, or ART) brings the pros of light rail without the associated headaches - such as cost of track installation, and the associated disruption to the area.
Speaking at an industry breakfast hosted by The Quarter, David Borger of the Sydney Business Chamber suggested an ART system linking Penrith Panthers, Penrith City Centre, Penrith’s upcoming health and education precinct, and terminating at St Marys City Centre could not only revolutionise our City by reducing congestion, but easily connect it to the North South Rail, the main corridor to the Western Sydney Airport.
While the technology is still in its infancy, Penrith Mayor, Ross Fowler OAM, commended The Quarter for creating a space for thought leaders to share their ideas of what Penrith’s future might be.
“Penrith is a region on the rise. With major changes already happening across the city, a collaborative view between thought leaders, experts, residents and Council is the key to our continued success.”
Penrith’s Booming Visitor Economy Hit New Heights in 2018
Increasing our reputation as a tourist destination with NSW, data from one of the newest players in the accommodation space in Penrith proves Penrith truly is the Adventure Capital of NSW.
After opening in July 2018, Quest Penrith has seen occupancy rates soar - especially across the summer months and in line with larger events within the region.
Quest Penrith joins other accommodation services within the region to have benefited from the increase in major events held in Penrith. November saw not only Real Festival take place on the banks of the beautiful Nepean River, but the IRONMAN 70.3 Western Sydney at Penrith Lakes, the NSW Open Golf at Twin Creeks Golf & Country Club, and the Westfield Matildas international soccer match.
With this increase in major events and the burgeoning New West investment opportunities, Penrith is, and will continue to be, a region on the rise.
Pictured: Business Development Manager Carly Allen and Franchisee Phil Willey
Investment in the growing New West
Council has recently received the following development applications:
● Demolition of Existing Structures and Construction of a 50 Place Childcare Centre at No. 50 Coreen Ave, Penrith - estimated total cost of work $930,000.
● Seniors Housing Development including Three (3) x Six (6) Storey Buildings comprising 120 Bed Residential Aged Care Facility, 76 Independent Living Units, Associated Facilities, Basement Car Parking & Related Site Works at Nos. 222-230 Derby St Penrith, 3-7 Reserve Street Penrith, 106 Woodriff St Penrith - estimated total cost of work over $77 million.
Council has recently approved the following applications:
● Community Facility for Assistance Dogs Australia National Training Facility including Ancillary Office Space, Conference Rooms, Cafe, Guest Accommodation, Caretaker's Dwelling, Car Parking & Associated Works at 7-8 Austin Place, Orchard Hills - estimated total cost of work $10 million.
● Alterations and Additions to an Existing Tenancy for Use as a 114 x Place Child Care Centre at 33-43 Phillip Street, St Marys - estimated total cost of work $750K.
● Water Recycling Facility Access Road & Associated Earthworks & Site Works at 565-609 Luddenham Road, Luddenham - estimated total cost of work over $3.1 million.
A city of pride and progress; a region of opportunity, connected to the markets and infrastructure of tomorrow. Penrith is the lifestyle and economic heartland for the new Western Sydney Airport and Aerotropolis. We are advancing industry and employment with unrivalled liveability, skilled workers and natural attractions.
