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CSR gets 17ha sale at Penrith industrial park

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/m² 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.

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