Ann: Qube enters into Binding MLP Sale Documentation with Logos, page-5

This is what longstanding columnist John Durie says in 'The Australian' of Tuesday 6 July 2021 re QUB:

(bear in mind when the Australian Rail Track Corporation's over budget Inland Rail line is completed, strictly speaking the Moorebank Intermodal Terminal won't any longer be on the main Melbourne to Brisbane rail line but there will still be a rail line from Moorebank to each via Junee and Coffs Harbour respectively):

"Qube is trading ahead of a hefty share buyback after closing the $1.7bn sale of its famed Moorebank intermodal facility to the LOGOS consortium for about $900m profit over a 17-year investment. The deal is a boon to new boss Paul Digney who took over from Maurice James last week, and some 17 years since former boss Chris Corrigan approached the then Prime Minister John Howard about buying the land to establish the centre.

Along the way one-time partners including Aurizon and Stockland dropped off, leaving James to push through on the project, which is still subject to some last-minute refinements on planning approvals and FIRB approval.

In today’s ESG terms the project is a winner, located on a rail line from Port Botany and the Melbourne to Brisbane train line, with the potential to clear 1.5 million containers, removing the need for 2000 trucks and reducing daily truck traffic by 150,000km a day and interstate trucking by 93,000km.

From ship to warehouse the goods are handled by robots.

AustralianSuper likes the asset. After a $774m investment it will own 25 per cent in a deal which also includes AXA, TCorp and Ivanhoe Cambridge, led by LOGOS Australian boss Darren Searle, who comes to the table from a logistics background, including time with Toll.

Qube had invested $300m in land and $500m on the park, which now has key tenants including Woolworths, Caesarstone and Target.

Qube will be running the open access terminal, which links with its half-owned Patrick container terminal and now returns to being a pure play logistics company."