BAC Holdco, the company that owns the leases to Bankstown and Camden Airports has been sold, Sydney Metro Airports announced this week.
The new owners, First State Super and Altis Property Partners, bought BAC Holdco from Mirvac and Colonial First State for a reported $203 million.
The deal includes 31.8 hectares of surplus land at Bankstown and a further 8.3 hectares at Camden for future developments.
Altis Partners principal Shaun Hannah told the media there was plenty of scope for further development at both sites.
"The Bankstown asset is a very large, strategic infill landholding in western Sydney, which is home to Australia's pre-eminent multi-use general aviation airport," he told media.
"There is an opportunity to improve the existing infrastructure, facilities and amenity at the site through targeted capital investment benefitting both aviation and non-aviation users.
Both airports are leased from the Commonwealth Government with 37 years remaining and an option for a further 49 years.
The airports will continue to be operated as per the existing master plans.