By Matthew Doran, originally published by the ABC on the 21st of September.

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 12-hectare pocket of land was bought by the Commonwealth for $29.8 million from the Leppington Pastoral Company (LPC) in 2018, but less than a year later the Government estimated the plot was worth just over $3 million.

Read the full article here.

The full ANAO Report is available here.