Floodplain property developer linked to Liberal Party

Floodplain property developer linked to Liberal Party

It has been reported today that the director of a multi-million dollar floodplain development company, owning land downstream of the proposed Warragamba Dam wall, donated $550,000 to the NSW division of the Liberal Party over the last 3 years, according to the Australian Electoral Commission.

Chinese Australian Kenny Zhang was one of three Clydesdale directors when the company bought land at Marsden Park in August 2014 for $45 million, according to SAI Global Property and ASIC.

Almost the entire property is classified as flood-prone land with parts in the one-in-100-year flood zone.

Nearly six months after then-premier Mike Baird announced in mid-2016 that the wall would be raised, Clydesdale sold the property for $138.8 million - more than three times the amount originally paid, according to the NSW Valuer General.

Harry Burkitt, a western Sydney resident from the GIVE A DAM community group said:

“Many of the large development projects in western Sydney are earmarked to be built on flood-prone land. All the while western Sydney roads, trains and schools are bursting at the seams from the population explosion occurring in the area.

“Floodplain developers are set to gain significantly if the dam wall raising goes ahead.

“Within weeks of the Warragamba Dam wall raising being announced by Mike Baird, a director of a floodplain landholding company (downstream of the dam) donated $300,000 dollars to the NSW division of the Liberal Party. The same company director then donated another $250,000 in 2017.

“Within just months of the dam wall announcement, this same landholding company would seem to have sold their flood-prone land for $93 million more than they originally bought it for three years prior.

“There are many questions that need to be answered here.”

Media contact:
Harry Burkitt
[email protected]
0490 010 909