Sales documents have hit the desks of suitors for Qube Holdings’ Moorebank Logistics Park that is on offer, as investment bank UBS starts to ramp up the process for the prized Sydney-based industrial property asset.
The regular contenders in the Australian listed real estate space are expected to show interest, with Dexus Property Group, Charter Hall and potentially the GPT Group joining the Goodman Group in the competition.
Being considered by Qube, which has a $5.8bn market value, is a sale or spin-off of Moorebank, with investment bank UBS involved.
The yet-to-be-completed Moorebank intermodal facility is valued at up to $2bn and is the largest in the country, covering 243ha.
Moorebank Logistics Park is being developed on a precinct comprising land owned by the commonwealth and adjacent to land owned by Qube.
The precinct has the capacity to transport up to 1.05 million 20-foot equivalent units a year of import-export freight and another half million 20-foot equivalent units of interstate freight a year.
While some say a listed spin-off could be considered, most believe a private sale is the most likely outcome.
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