Addresses: 263 – 273 & 273a Coward Street, 297 King Street & 62 – 86 Kent Road, 350 King Street, Mascot, NSW
Vendor: Qantas
Purchaser: LOGOS
Sale Price: $802m
The Portfolio:
Located within the heart of Mascot, immediately adjacent to Sydney Kingsford Smith Airport Precinct, the portfolio offered development sites totalling 137,565m² and a total potential gross floor area of 231,083m². The portfolio represented an unprecedented opportunity to develop a super core, multi-level industrial & logistics estate and institutional grade mixed-use commercial and industrial development of scale within the South Sydney market.
The Challenge:
Unlock the highest value of the development opportunity whilst protecting Qantas’ long-term interests.
The Strategy:
- Provide strategic advisory to Qantas in relation to their property strategy as well as ongoing consultation throughout the transaction process
- Extract the highest and best use of each site by leveraging our teams’ in-depth local knowledge to strategically position each site
- Structure sale and leaseback terms to protect Qantas’ long-term interests while creating an enticing offering to the institutional market
- Prepare extensive supplementary documents to streamline Due Diligence and allow parties to focus on commercial negotiations
- Implement an innovative marketing campaign to drive competitive tension and ensure market cut-through
- Implement a strategic buyer engagement strategy underpinned by our extensive database and key client relationships
Experts Value Add:
The campaign brought together over 20 of our experts across Strategic Advisory, Industrial, Industrial Capital Markets, Valuation & Advisory Services, Research, Marketing and PR.
Key team members included:
- Neil Murray, Head of Strategic Advisory | Australia
- Dwight Hillier, Managing Director | Valuation & Advisory Services
- Rebecca Ngan, Senior Analyst | Strategic Advisory
- Michael Crombie, National Director & Director In Charge | South Sydney
- Gavin Bishop, Managing Director | Industrial
- Trent Gallagher, National Director | South Sydney
- Sean Thomson, Head of Industrial Capital Markets, NSW
- Jessica Evans, National Marketing Manager | Industrial Capital Markets
- Billy Kanakis, Executive | Industrial Capital Markets
- Belinda Tolevski, Senior Personal Assistant & Operations Manager | Industrial
- Amanda Najem, Project Marketing Executive | Industrial
The Result:
The initial market assessment of the portfolio was $450m. Colliers were able to achieve a sale price of $802m as a result of our teams’ ability to unlock value across the entire portfolio and strategically position each asset to maximise price:
- 359 DD Room Requests
- 54 Initial Meetings
- 18 First Round Parties
- 9 Second Round Parties
- 5 Final Offers