Qube sells Australia’s largest intermodel facility for $ 1.79 billion
An artist’s impression of what the finished site will look like.
Asia-Pacific logistics specialist LOGOS and partners have signed a binding agreement with Qube to purchase Australia’s largest intermodal logistics facility at Moorebank in southwest Sydney for $ 1.67 c.
By acquiring Moorebank Logistics Park (MLP), the consortium will set a new benchmark for logistics development in Asia Pacific and contribute to continued innovation in the sector globally, the company said in a press release.
The site comprises approximately 243 hectares of land which will be developed into high quality industrial property and infrastructure, including a potential 850,000 m² of warehouses directly adjacent to Australia’s largest intermodal rail facilities with a direct link to Port Botany.
When completed, the site is estimated to be worth $ 4.2 billion.
“This acquisition places the LOGOS consortium at the heart of a logistics revolution that will generate powerful economic benefits as MLP’s intermodal terminals expand, thereby increasing the efficient transfer of cargo from Port Botany to Australian customers,” said a door -speak.
“Our collective vision for MLP represents a fundamental shift in East Coast logistics, as a fully automated rail link from port to site. The high levels of automation across intermodals and warehousing will generate significant long-term cost benefits and improve supply chain predictability, which will provide workforce efficiency and availability. large stocks. The scale of a logistics site with this range of benefits, within a 30-minute drive of a major global CBD, has never been seen in Australia before. “
Changes in consumer behavior and expectations, especially since the emergence of Covid-19, have had significant impacts on supply chains. This has forced distributors and retailers to seek longer term solutions to meet customer demand in food, cold storage, pharmacy, freight and distribution as a whole. , added LOGOS.
“Connectivity, efficiency and intermodal capability are essential elements of a preeminent logistics site, and no site is better equipped to facilitate advanced levels of scale and automation than the Moorebank district,” said Darren Searle, LOGOS manager for Australia and New Zealand. .
“Global and domestic customer demand for high quality, larger and automated distribution warehouses and distribution centers has continued to grow, and the LOGOS Consortium is delighted to advance NSW’s preeminent position in the network. national logistics through the acquisition of MLP. . “
The site’s location in Sydney’s South West district is highly strategic, providing direct access to the M5 motorway, M7 motorway and the Hume motorway, serving major freight corridors through New Brunswick. South Wales.
“The supply chain benefits offered by increased access to road rail freight will greatly benefit MLP tenants, and connectivity between Port Botany, Moorebank’s distribution center and on-site warehouses will provide operational savings.” unprecedented for importers and exporters, ”said Searle.
“The benefits of the site extend well beyond just tenants. By 2030, MLP aims to reduce truck trips in Sydney and between states by 243,000 km per day and reduce carbon emissions by the equivalent of taking 11,000 vehicles off the road for a full year.
“We pride ourselves on having leading sustainable practices and results at the center of our investment process. “