Homeowner Theo Koutsomihalis furious with proposed Western Sydney Airport zonings

·

Furious residents say their homes have been left “unsellable”, with one saying his property’s value plummeted from $11 million to only $1 because of proposed land zonings surrounding the new western Sydney airport, The Daily Telegraph reports.

Theo Koutsomihalis says under the latest zonings proposed, his entire 10 acre Luddenham property would be designated as green space – wiping millions from its value after it had previously been zoned as enterprise land.

He said planning firm Urbis had initially valued his land, then zoned as enterprise, at $11m.

However, proposed plans by the State government have designated his entire property as green space – with the firm updating him the property would now be “unsellable” with a value of $1.

“I’m stuck now with a property worth $1 for the next 20 or 30 years, if it ever sells,” he said.

“The other day I literally had to pull the car over and have a panic attack for 45 minutes.

“My kids’ future is gone.”

Mr Koutsomihalis drew the largest cheer at a public meeting of about 200 concerned locals at Luddenham Showground on Tuesday with state politicians and councillors from Liverpool and Penrith.

Full story: The Daily Telegraph

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Historic link between Battle of Crete and ANZACs a focus of Sydney commemorations

The historic link between the Battle of Crete and the ANZAC forces were a key focus of commemorations in Sydney.

Multicultural media’s vital role in public interest journalism a key message at Sydney event

Multicultural media's vital role in public interest journalism was a key message at a Sydney event by IMMA.

‘Into the Moonlit Village’ echoes of Battle of Crete and Minoan myth

The story behind ‘Into the Moonlit Village’ is as captivating as the work itself. We found out more to mark the Battle of Crete.

Generations of Pontians remember their roots at genocide commemoration in Melbourne

Melbourne's Pontian community commemorated the Greek Genocide on Sunday, May 19, as part of a series of events. Read more here.

Australian Hellenic Medical Charity raises $30,000 for Nicosia hospital

The Australian Hellenic Medical Charity raised $30,000 for the Paediatric Clinic at Makarios III Hospital in Nicosia, Cyprus.

You May Also Like

Andrew Liveris helps US President, Joe Biden, pass $1.64 trillion infrastructure bill

Andrew Liveris has something to celebrate after the Biden administration passed its historic $1.64 trillion infrastructure bill.

Santa photos and family gatherings: Helen Koutulakis Chrysanthou shares Christmas memories

Born and raised in Sydney in the late 1950s to migrant parents Australian Cypriot Helen Koutulakis Chrysanthou shares her Christmas memories.

Time to vote! Lysicrates Prize 2020 online voting now open to the public

The Lysicrates Prize 2020 audience vote was held in Sydney on January 31, and people now have the opportunity to vote online for which play they want to see as winner.