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Logos secures Sydney’s largest ever industrial portfolio

Qantas Appointment

Colliers facilitates sale of 13.8 ha of Qantas land in Mascot

Major logistics investor Logos has acquired 13.8 hectares of land from Qantas for $802,000,000 in a landmark deal for Australian property.

The sale – introduced by Neil Murray, Rebecca Ngan and Dwight Hillier of Colliers’ Strategic Advisory team and facilitated by Colliers’ Michael Crombie, Gavin Bishop, Trent Gallagher, and Sean Thomson – represented a once in a lifetime investment opportunity.

It included a long-term, sale and lease back of Qantas’ 21,795sqm distribution centre, and a further three development sites totalling 98,645sqm, immediately adjacent to Sydney Kingsford Smith Airport Precinct.

“The International Expressions of Interest generated significant domestic and offshore attention and will be noted as the most prominent sales campaigns of 2021, with in excess of $8 billion of unsatisfied capital left to place within the Australia industrial sector from the unsuccessful bidders,” Mr Crombie said.

“The campaign attracted insatiable interest from institutional investors and developers recognising the scarcity of replaceable opportunities of genuine scale to redevelop within the tightly held Mascot precinct.”

Once fully redeveloped, the expected end value of Logos’ proposed development will extend well beyond $2 billion, making the company one of South Sydney’s largest landlords. Logos intends to develop a world class, multi-level logistics and office park development, something that will be transformational, and change the landscape of the Mascot precinct forever.

Gavin Bishop, Colliers Head of Industrial Capital Markets, Australia, said: “The Australian industrial and logistics market completed its best year on record in the year to June 2021, providing a total return of 23.2% over the period.

“This performance surpassed the previous record set back in late 1988, where the total return measured 23.1%. The sector continues to surpass expectations, and the performance spread over the retail and office sectors is at record highs.”


Related Experts

Michael Crombie

Director In Charge | Sydney South

Sydney South

Michael is the National Director of Property Sales & Leasing at Colliers International and also holds the role of Director in Charge for the Sydney South office. Based in Mascot, Michael's team of eleven agents is 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. 

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

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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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Sean Thomson

Director, Industrial Capital Markets | Industrial

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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Trent Gallagher

National Director, Property Sales & Leasing | Industrial

Sydney South

Trent has been in the real estate industry for over 14 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 commercial and industrial properties from which he has gained immense property knowledge. Since coming to Colliers International, he has excelled across the property spectrum and has become known for his hard work becoming the leading agent in the Sutherland Shire, St George, South Sydney, South West and the Inner West markets.

Trent has been involved in some of Sydney’s most notable sale transactions which includes the old Toyota HQ at 13 Endeavour Road, Caringbah and the Qantas investment and land portfolio at Mascot. 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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