Qantas buys unexpected $802m land selling premium land near Sydney Airport

Buyers will own a 38,920-square-foot Qantas distribution center and will be available as a 10-year sale and leaseback; two development sites with a total area of ​​82,000 square meters, which can house a multi-story estate development and a 16,000 square meter business park development site.

‘Rare opportunity’

Darren Searle, head of LOGOS Australia and New Zealand, described the site at Mascot as a “rare opportunity” to further develop a market-leading e-commerce, distribution and commerce hub between the ports of Sydney and final distribution points in Australia’s main gateway city. .

“The site offers a unique link as a key freight gateway for the airport and a critical link to supply chains across the country,” said Searle.

The acquisition includes AustralianSuper’s acquisition of LOGOS, as well as a 40 percent stake in the $1.67 billion Moorebank Logistics Park in July, valued at $774 million, and the Wiri Estate development in New Zealand in 2019, also managed by LOGOS. occurred after the purchase.

AustralianSuper property manager Bevan Towning said the buyer consortium has a long-term redevelopment plan that will transform the site into a key logistics hub for customers looking for strategically located logistics facilities.

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“This is a great opportunity for AustralianSuper to access an asset with significant growth potential for many years to come. Opportunities of this size and scale are rare in such sought-after locations,” said Mr Towning.

“As a large fund with a long-term focus, we are fascinated by opportunities where we can deploy capital and use our investment expertise to create large-scale projects that will positively contribute to members’ retirement balances over several years.”

The agents of the deal, Neil Murray, Rebecca Ngan and Dwight Hillier from Colliers’ strategic advisory team, and Colliers’ Michael Crombie, Gavin Bishop, Trent Gallagher and Sean Thomson, said that the sales campaign generated significant interest at home and abroad.

Gavin Bishop, head of industrial capital markets at Colliers, Australia, said the local industrial and logistics market completed its record best year in the year to June 2021, yielding an overall return of 23.2 percent over the period.

“This performance surpassed the previous record decline in late 1988 when total return was measured at 23.1 percent. The industry continues to exceed expectations and performance spanning the retail and office sectors is at record levels,” he said.

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