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Qantas Investment & Land Portfolio

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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: 

  1. Provide strategic advisory to Qantas in relation to their property strategy as well as ongoing consultation throughout the transaction process
  2. Extract the highest and best use of each site by leveraging our teams’ in-depth local knowledge to strategically position each site
  3. Structure sale and leaseback terms to protect Qantas’ long-term interests while creating an enticing offering to the institutional market
  4. Prepare extensive supplementary documents to streamline Due Diligence and allow parties to focus on commercial negotiations 
  5. Implement an innovative marketing campaign to drive competitive tension and ensure market cut-through
  6. 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

Related Experts

Neil Murray

Head of Strategic Advisory | Valuation & Advisory Services

Sydney

I joined Colliers in 2018 as Head of Strategic Advisory. I am dedicated to leading the national team of multi-disciplinary experts to tailor strategic advisory services, across all market sectors and asset classes, to our client’s needs.

I have demonstrated success across a diverse range of property services including: strategy development, high stakes negotiation, change management, transaction management, asset management, leasing, operations, corporate real estate, funds management and development management in all market sectors.

As an established senior property professional and knowledge manager, with 25+ years’ industry experience, I possess strong interpersonal and business relationship management skills which are key to understanding client’s unique business requirements and the complex challenges explicit to the project lifecycle.

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Dwight Hillier

Managing Director | Valuation & Advisory Services, Strategic Advisory & Healthcare & Retirement Living

Sydney

I am responsible for the oversight and management of Valuation & Advisory Services; Strategic Advisory & Healthcare & Retirement Living  businesses in Australia.  Ensuring Colliers remains best in class providers in their respective markets. 

COMPANY EXPERIENCE
Managing Director, Valuation & Advisory Services 2013 - Present
National Director, CBD Commercial Valuation, Sydney CBD Office 2006 - 2013
State Director, Consultancy and Valuation, Sydney CBD Office 2003 - 2006
Associate Director, Sydney CBD Office 2002 - 2003
Senior Valuer, Sydney CBD Office 1998 - 1999
Valuer, Sydney West Office 1995 – 1998

PROFESSIONAL ACCOMPLISHMENTS | OFFICE VALUATION & ADVISORY

Some of the more prominent clients that I regularly undertake national valuation appointments from include The GPT Group, AMP Capital Investors, DEXUS, Brookfield, and Lendlease.

Some of my more recent valuation instructions of Premium and A grade commercial office assets undertaken are as follows:-

‘Governor Phillip’ & ‘Governor Macquarie Towers’, 1 Farrer Place, Sydney
‘RBS Tower @ Aurora Place’, 88 Phillip Street, Sydney
‘Darling Park’, 201 Sussex Street, Sydney
‘Grosvenor Place’, 225 George Street, Sydney
1 Bligh Street, Sydney
120 Collins Street, Melbourne
530 Collins Street, Melbourne
8 Exhibition Street, Melbourne
‘Bourke Place’, 600 Bourke Street, Melbourne
One One One Eagle Street, Brisbane
1 William Street, Brisbane
Central Plaza I, II & III, Brisbane
‘Bankwest Tower’, 108 St Georges Terrace, Perth
‘Brookfield Place', 125 St Georges Terrace, Perth
‘Ernst & Young Centre’, 12 Mounts Bay Road, Perth

PRIOR EXPERIENCE

Prior to joining Colliers, I worked within the Research Department of the Property Council of Australia (PCA), then with a boutique firm of Valuers & Land Economists, where I was involved in the valuation of residential property predominantly for first mortgage security purposes, as well as commercial and retail rental advice.

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Rebecca Ngan

Associate Director

Sydney

Rebecca's career at Colliers commenced in 2018 where she has held key support roles within the Real Estate Management Finance team and the NSW Agribusiness Transaction Services and Valuations teams before transitioning to the Strategic Advisory team.

Throughout her tenure at Colliers, Rebecca has been exposed to all asset classes and has sound property knowledge. Rebecca provides exceptional analytical and research support to the team and the business for a diverse range of projects. Rebecca also works closesly with the Head of Strategic Advisory to deliver over-arching property strategies to accelerate the success of our clients.

The Strategic Advisory team nationally focuses on:

  • Strategic Transaction Management;
  • Development Services;
  • Asset Optimisation;
  • Demographic and Economic Analysis;
  • Market Studies;
  • Portfolio Audits; and
  • GIS Mapping.

 

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Michael Crombie

Director In Charge | Sydney South

Sydney South

Michael is the National Director of Property Sales & Leasing at Colliers and is also is the Director in Charge for the Sydney South office. Based in Mascot, Michael's team of  nine agents are one of the highest performing teams in Australia.

Since joining Colliers' in 2001, Michael's specialisation is core South Sydney, with a heavy focus on large transactions of land, investments, and residential sites as well as large leasing mandates. Michael has worked on some of the largest deals in industrial history, including a recent transaction at Carter Street Homebush for over $660 million, and most recently the Qantas Investment & Land Portfolio for $802 million. 

Working in a changing and often challenging market, Michael prides himself on providing creative agency solutions to his clients., keeping ahead of the trends, and leveraging off Colliers' industry leading platforms, to ensure his clients achieve better and faster results.

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Gavin Bishop

Managing Director | Industrial

Sydney

Gavin is the Managing Director of Industrial & Head of Industrial Capital Markets Australia at Colliers, where he has been specialising in industrial property for 21+ years. Based in the Sydney CBD Head Office, Gavin manages a highly successful team of over 120 staff across every state & territory nationally in key industrial and logistics precincts.

Gavin specialises in the national industrial capital markets and has excellent relationships across a broad spectrum of institutional, international and private investors. Over Gavin’s time with Colliers, he has completed hundreds of deals in industrial property, settling over $14 billion in his career to date, and leasing over 400,000sqm. Gavin enjoys a 75% market share of industrial capital markets share in NSW.

Gavin has worked extensively in the sale of industrial portfolios of up to 30 assets in one portfolio. Gavin and his team have sold 24/34 of all industrial portfolios in Australia over the last five years, including the AMP Portfolio ($105m), J.P. Morgan Portfolio ($250m), Altis Portfolio ($342.5m), Qantas Portfolio ($802m) and GIC/Australand Portfolio ($1.073b).

Some major distribution centre sales that Gavin and his team have been involved in over the last two years include, the Calibre, Eastern Creek ($130.1 million), 1 Eucalyptus Place, Eastern Creek ($90.5 million), 3 Roberts Road, Eastern Creek ($253 millions) and 6-20 Clunies Ross Street, Greystanes ($76.6 million)

Gavin has focused on building deep relationships with his clients, providing the latest in-depth information about logistics markets across Australia, which in line with his extensive track record, has seen Gavin achieve record-breaking results for his clients.

Gavin is a long-standing member of the Colliers team, having joined in 2000 as a graduate valuer. Gavin commenced with Colliers as part of their Scholarship Program and he was fortunate to work across multiple service lines and locations across Sydney, before settling in the Industrial team in Sydney South in 2001. Over the last 20 years, Gavin has progressed through the industrial business including managing the Sydney South and Sydney South West offices, before moving into the NSW State Product Director for Industrial in 2010.

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Trent Gallagher

National Director

Sydney South

Trent has been in the real estate industry for over 15 years and in that time, he has thrived in this competitive industry and established himself as one of the most highly esteemed agents within the industry. He has honed his skills in varied markets whilst specialising in development sites, commercial buildings and industrial properties from which he has gained immense property knowledge. Since coming to Colliers, he has excelled across the property spectrum and has become known for his hard work becoming the leading agent in the South Sydney, Sutherland Shire and South West markets.

Trent has been involved in some of Sydney’s most notable sale transactions which includes the Ausgrid owned mixed use development site at 130 Joynton Ave for $183M, the old Toyota HQ at 13 Endeavour Road, Caringbah for $170.5M and the Qantas investment and land portfolio at Mascot for $802M. Trent has also been involved in some of Sydney’s most notable industrial and commercial leases along with notable pre-lease transactions which includes the new 18,000m Harvey Norman warehouse at Casula.

Trent continues to endeavour to be at the forefront of the industry with innovative methods in canvassing, marketing and strategic sales. He strives to actualize the goals of his vendors and work hand in hand with prospective purchasers to ensure all parties achieve the best result efficiently.

Trent takes personal pride in his responsibilities to his clients and delivering service excellence across a variety of situations with his experience and knowledge to recognise and assess any industrial, commercial, retail or residential development site requirement. His assembly of long term clients is a testament to his commitment to his work and ensuring he delivers the best result every time.

 

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Sean Thomson

Head of Industrial Capital Markets, NSW

Sydney

Sean Thomson works for Colliers International as Director of Industrial Capital Markets, Australia, where he specialises in the sale of industrial & logistics assets nationally.

Sean works alongside Gavin Bishop (Head of Industrial Capital Markets, Australia) on a day-to-day basis and holds excellent relationships across a broad spectrum of corporate, private, institutional and international investors.

Having been involved in excess of $14.0 billion of strategic valuation advice, his experience and understanding of the levers which can best maximise value together with the capital markets team’s track record, is integral in achieving the strongest possible result for his clients.

Sean has been involved in many large-scale portfolio divestments including:

  • Qantas Portfolio ($802 million)

  • The Super Core Logistics Portfolio ($186 million)

  • The Greenlit Brands Portfolio ($171 million)

  • Calibre, Eastern Creek ($130 million)

  • The Kaufland Portfolio ($129 million)

  • The AMP Portfolio ($105 million)

Sean holds an unmatched track record in divesting major distribution centres including:

  • The Fairfield Distribtuion Centre ($200 million)

  • Toyota South Sydney ($171 million)

  • 884 Mamre Road, Kemps CReek ($125 million)

  • 59 Lockwood Road, Eastern Creek ($107 million)

  • 37-39 Wentworth Street, Greenacre ($100 million)

  • 1 Eucalyptus Place, Eastern Creek ($91 million)

  • 342 Hammond Road, Dandenong South ($87 million)

Sean has focused on building deep relationships with key global institutional clients, providing the latest in-depth information about the logistics market across Australia, which in-line with his extensive track record, has seen him achieve record-breaking results for his clients.

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Billy Kanakis

Senior Executive, Capital Markets

Sydney

Billy Kanakis works for Colliers International as an Executive within Industrial Capital Markets Australia, where he specialises in the sale of Industrial & Logistics assets nationally $20M+

Since joining Colliers, Billy has been directly involved in $3 billion worth of transactions, working on a day-to-day basis alongside Gavin Bishop and Sean Thomson to ensure record breaking results are achieved for clients in the divestments of large-scale national industrial assets and portfolios.

Based in the Sydney CBD Head Office, Billy is responsible for undertaking financial modelling and presenting financial analyses to a broad spectrum of corporate, institutional and international investors to maximise value.

Billy has over four years direct property experience within Australia, previously working at Charter Keck Cramer in Melbourne and is an accredited Certified Practising Valuer.

Billy has worked on a diverse range of transaction engagements to provide clients with strategic, financial and valuation advice in relation to decision making and transaction processes to deliver record breaking results for the following portfolio and stand-alone asset divestments:

  • The Qantas Investment & Land Portfolio ($802,000,000)
  • The Fairfield Distribution Centre ($202,000,000)
  • The McPhee Portfolio ($186,000,000)
  • 884 Mamre Road, Eastern Creek ($126,000,000)
  • 149 Airds Road, Minto ($75,200,000)
  • Lot 9, McPherson Street, Banksmeadow ($75,000,000)
  • 509 Boundary Road, Darra ($36,500,000)
  • 237 Fleming Road, Hemmant ($36,110,000)
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