LOGOS Property Group Consortium’s $802 Million Acquisition of 13.8 Hectares Land from Qantas Airways Limited

MinterEllison has acted for Qantas Airways Limited on the sale of 13.8 hectares of freehold land.

Qantas Airways Limited has sold 13.8 hectares of freehold land at Mascot, near Sydney’s Kingsford Smith Airport, to a consortium led by LOGOS Property Group for $802 million. 

The consortium includes AustralianSuper, the country’s largest super fund, and the Abu Dhabi Investment Authority.

The terms of sale include a leaseback arrangement for a significant proportion of the land, including the long-term lease of Qantas’ key Sydney distribution centre. In addition, there are a series of shorter-term leases for other operational facilities and car parks. This has a mutual benefit in allowing Qantas to prepare for the relocation of its current operations, while LOGOS progresses its development proposals.

Discussions are ongoing between Qantas and the purchaser consortium regarding options for future development. These options include the potential for a dedicated Qantas precinct.

The transaction is expected to be largely completed during the first half of this financial year.

Qantas Airways Limited (ASX:QAN) is the flag carrier of Australia and its largest airline by fleet size, international flights and international destinations.

LOGOS Property Group provides real estate logistics services. 

The MinterEllison team was led by Partner Anthony Poynton (Picture) and Special Counsel Andrew Wright, supported by Jenna Mastachenko and Patrick Kang, with Partner Rhys Guild advising on GST matters.

Involved fees earner: Rhys Guild – MinterEllison; Patrick Kang – MinterEllison; Jenna Mastachenko – MinterEllison; Anthony Poynton – MinterEllison; Andrew Wright – MinterEllison;

Law Firms: MinterEllison;

Clients: Qantas;

Author: Sonia Carcano