(L-R) Tom Fekete – Senior Vice President, Brookfield; Bruce Baudinet – Chairman, Precinct Capital; Karen McKeown OAM – Member for Penrith; Dylan Baudinet – CEO, Precinct Capital; Matt Hawkins – Business Operations Director, FDC Group.
PENRITH’S Great River Walk will finally connect the city centre to Western Sydney Lakes as part of a landmark commercial development that has attracted investment from the world’s second-largest real estate investor.
The initial stages of Nepean Business Park have been built during the first half of 2026, and now the New York-headquartered Brookfield Properties has made a $200 million investment in Precinct Capital’s 47-hectare commercial and industrial precinct.
Brookfield will acquire a multi-tenant industrial asset spanning several buildings on a seven-hectare portion of the site, which is located less than two kilometres from the Penrith CBD and on the banks of the Nepean River.
“We have always believed in Penrith and that this region would emerge as a key hub for Sydney, in tandem with the new Western Sydney Airport and Aerotropolis,” Precinct Capital chair Bruce Baudinet said.
“That a global firm with almost AU$400 billion of property in its portfolio has made this investment is an endorsement of the momentum of Penrith and the Nepean Business Park.
“It’s an endorsement of the NSW Government’s dedication to the west reaching its potential and Penrith City Council’s custodianship of Penrith’s evolving community.”
Upon completion, Nepean Business Park will contribute $500 million annually to Penrith’s economy and create thousands of new permanent local jobs, meaning more skilled workers in local communities can work where they live.
Brookfield’s Thomas Fekete said Nepean Business Park’s location at the crossroads of Western Sydney was a key feature in his company’s selection of the site. “E-commerce growth, increasingly complex supply chains and higher customer expectations are driving demand for modern, well-located warehousing facilities,” he said.
“Facilities like Nepean Business Park that combine commercial and industrial facilities are supported by resilient demand and strong long-term performance.”
Progress so far at Nepean Business Park includes completion of the first four stages of the project, and the development will see Penrith’s Great River Walk extended further north to Western Sydney Lakes.
Construction of this section of the Great River Walk will connect the Penrith CBD to Western Sydney Lakes via a safe walking and cycling path.
Precinct and Brookfield have selected the ASX-listed FDC Construction and Fitout Group to build the facility, with site preparation underway ahead of construction commencement later this month.
