LOGOS Consortium has confirmed $2.47 billion of deals in the last two days, acquiring Moorebank Logistics Park and Qantas’ Mascot site.
The historic acquisition of MLP will lead to development of Australia’s largest logistics and warehousing infrastructure project, aiming to transform e-commerce capabilities in NSW and Australia.
LOGOS, together with Consortium partners, AustralianSuper, Ivanhoé Cambridge, TCorp (NSW Treasury Corporation) and AXA IM Alts, announced their entry into a binding agreement with Qube to acquire the MLP site in July 2021.
With an end value of $4.2 billion, MLP is Australia’s largest intermodal freight facility, offering industrial warehousing opportunities and rail-to-port connectivity. The site includes around 243 hectares of land which will be developed into high quality industrial property and infrastructure.
Darren Searle, LOGOS Head of Australia & New Zealand says the scale and technology of this project makes it one of the most exciting within the group’s $22 billion portfolio.
“Together with the LOGOS Consortium, we are thrilled to be moving forward with our collective vision for MLP, which is a fully automated port-to- site rail link and world-leading industrial and warehousing site,” he says.
“We are passionate about providing a logistics site of this scale, with this immense range of benefits, within a mere 30-minute drive of a major global CBD, as an Australian-first.”
LOGOS and its partners AustralianSuper and Abu Dhabi Investment Authority have also settled their acquisition of a 14ha Qantas site in Mascot for $802 million.
The logistics investor acquired the landmark deal in October, with intentions to develop a world class, multi-level logistics and office park development, changing the landscape of the Mascot precinct.
“We are thrilled to settle on our acquisition of this rare and high-value Qantas site, which offers unparalleled connectivity as a critical link to supply chains around the country given its central location and proximity as a key freight gateway for Sydney airport,” Darren says.
“Together with our partners AustralianSuper and the Abu Dhabi Investment Authority we look forward to activating our plans to develop a leading logistics estate on the site, improving the e-commerce and distribution opportunities in Sydney and creating thousands of jobs for the local community.”
“The settlement of both MLP and Qantas transactions today further expands our shared portfolio of logistics and last mile investments made jointly with AustralianSuper, and we are proud to work together with such established partners to further our shared commitment to advancing the logistics and distribution landscape in Australia.”