KWM assists close for $2bn Moorebank Logistics Park

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King & Wood Mallesons (KWM) has worked with logistics and infrastructure company Qube on the financial close of the $2bn Moorebank Logistics Park in New South Wales.

The agreement between Qube and Moorebank Intermodal covers a 234ha site. The project will include the construction of an import-export terminal, rail links to the Southern Sydney freight line, and container processing areas. Up to 850,000sqm of integrated warehousing will also rise.

Qube will develop and operate the facilities under a 99-year lease on the combined Commonwealth and Qube-owned sites.

The KWM team was led by partners Mark Upfold and Stuart Dixon-Smith, with lead support provided by special counsel Simonne Einfeld and senior associates Gareth Howe and Scott Phillips.

Upon completion, the logistics park is expected to reduce constraints on container volumes moving through Port Botany, and relieve traffic congestion on Sydney’s roads.

Norton Rose Fulbright Australia also assisted Qube Holdings.  Herbert Smith Freehills acted for Moorebank Intermodal Company Limited.  Ashurst represented the Commonwealth.

KWM recently advised Investec Australia Property Fund on its $160 million acquisition of two Sydney office properties.

Investec, a new client of the firm, acquired the units of two trusts which hold two properties located in North Ryde and Frenches Forrest.

KWM has also assisted QIC on behalf of its clients, the QIC Global Infrastructure Fund and the Future Fund, on the $450 million development of the Silverton Wind Farm, expected to be completed in mid-2018.

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