This morning 5 July 2021. Freight & Trade Alliance (FTA) and the Australian Peak Shippers Association (APSA) received advice that LOGOS has announced its acquisition of Australia's largest intermodal logistics facility – Moorebank Logistics Park (MLP) in Sydney – for A$1.67 billion from Qube (ASX:QUB).
LOGOS, together with partners Ivanhoe Cambridge, Australian Super, TCorp and AXA IM Alts, as "the LOGOS Consortium" will deliver this milestone strategic investment to establish a new benchmark for logistics development in the Asia-Pacific and contribute to ongoing further innovation in the sector globally.
MLP is one of the most significant logistics infrastructure projects in the Asia-Pacific: - The expected gross asset value once the site is developed in FY26 is $4.2 billion.
- MLP is the largest intermodal freight precinct in Australia, including 243ha of developable land for high quality industrial property and infrastructure, two intermodal terminals facilitating interstate freight and import-export freight, and 850,000sqm of warehouse opportunities directly adjacent to Australia's largest rail intermodal facilities. This site is larger than the size of the Sydney CBD.
- MLP's location in Sydney's South West precinct is highly strategic, providing direct access to the M5 motorway, M7 motorway, and Hume Highway, servicing key freight corridors through NSW.
- MLP is an unrivalled industrial logistics investment opportunity in Australia, as it offers unparalleled industrial warehousing opportunities and connectivity that is of national significance and Government investment.
- MLP is the only logistics facility in Australia that boasts intermodal capacity, making it the only site in the country that can the best opportunity to expand Australia's inland rail prospects through its rail connectivity.
Qube will continue to operate the IMEX and Interstate rail terminals on-site.
LOGOS will deliver many economic benefits through MLP:- More than $11 billion in economic benefits, including $120 million for south-western Sydney
- The creation of about 1,300 jobs during construction and 6,800 operating jobs at the terminal.
- Reduction of 40,000 tonnes of greenhouse gas emissions per annum
- By 2030, a reduction of container truck travel by 150,000km per day and interstate truck travel by 93,000km per day
- By 2030, delivery of carbon emission savings equivalent to removing 11,000 vehicles from the road for a full year
- On completion, the Moorebank facility will move 1.5 million shipping containers annually by rail instead of road, which could take more than 2600 heavy truck movements off Sydney's roads each day
LOGOS's Asia-Pacific portfolio comprises 100 logistics estates across nine countries with AUM of approximately $11.5 billion in Australia and New Zealand, including MLP. LOGOS intends to continue to strategically grow the number of AUM the Asia-Pacific market over the coming years, with a focus on fulfilling changing community needs and the continued growth of e-commerce through investment in market-leading automation, distribution, e-commerce and intermodal facilities. |
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