Search
Close this search box.
News

LOGOS acquires Qantas site in Mascot for $802m

blank
2 min read
Share

Logistics specialist LOGOS Group has led a consortium to acquire a 14 hectare land parcel from Qantas Airways near Sydney Airport for $802 million.

The acquisition was backed by the Abu Dhabi Investment Authority via the LOGOS Australia Logistics Venture (“LALV”), together with its partner, AustralianSuper.

The land is a substantial land holding of 13.8ha in Mascot, in a highly desirable and strategic location in immediate proximity to Sydney Kingsford Smith Airport, Port Botany, WestConnex and the M5/M8 Motorway.

The property represents one of the last available scalable logistics and commercial development sites in the coveted South Sydney market.

Once completed, the transaction will increase LOGOS’ assets under management in Australia and New Zealand to $13 billion.

“To acquire this site at Mascot is a rare opportunity to further develop a market-leading e-commerce, distribution and commercial hub between Sydney ports and the ultimate distribution destinations in Australia’s main gateway city,” said Darren Searle, Head of Australia & New Zealand at LOGO.

“The site is a key freight gateway for the airport and offers unparalleled connectivity as a critical link to supply chains around the country,” he explained.

The site will be redeveloped into a state of the art, four-level ramp up, logistics, e-commerce and last mile logistics hub, which is set to substantially enhance the connectivity of Sydney airport and provide tenant customers with access to major population catchments and transport infrastructure.

The transaction is expected to be completed by December 2021. Upon development completion, the property is forecast to have an end value in excess of $2 billion.

The consortium and Qantas have also entered into discussions regarding potential future development options for the sites, including the creation of a dedicated precinct for Qantas, as well as the sale of an additional 3ha of land that adjoins some of the lots being sold.

The acquisition further expands LOGOS’ growing development pipeline across Australia including its shared portfolio of logistics and last mile investments made jointly by LOGOS and AustralianSuper, with their most recent joint consortium venture acquiring the Moorebank Logistics Park for $1.7 billion.

Source: LOGOS

Tags:

You Might also Like

Related Stories

Next Up