A group of powerful institutional investors, including AustralianSuper and AXA IM Alts, have teamed up with Logos to acquire Australia’s largest intermodal logistics facility at Moorebank in south-western Sydney for $1.67 billion from Qube.

Canada’s Ivanhoé Cambridge and TCorp – the NSW Treasury Corporation – are coming in as well on a deal where much of the focus will be on the sprawling site’s considerable development upside. That comprises 243 hectares of developable land, giving it a potential end value of $4.2 billion.