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Government paid 10 times what Western Sydney Airport land was worth, audit finds – ABC News

The Federal Government bought land from a billionaire family at 10 times its market value in a “significant and unusual transaction” linked to the development o…

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The Federal Government bought land from a billionaire family at 10 times its market value in a “significant and unusual transaction” linked to the development of Western Sydney Airport, according to the Australian National Audit Office.

  • The Federal Government paid $29.8 million for land linked to Western Sydney Airport in 2018
  • Less than a year later, it valued the land as being worth $3 million
  • The auditor-general has savaged the Department of Infrastructure for the purc…

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