LOGISTICS specialist LOGOS has announced it has exchanged contracts with Toll Group to acquire a 15.3ha development site in the Sydney suburb of Villawood.
The deal involves a partial sale and leaseback agreement, with the acquisition due to settle in late 2019. The acquisition includes a partial leaseback to Toll over a portion of the site.
LOGOS plans to re-develop the remaining 11.3ha of the site into a logistics and intermodal estate with an estimated on completion value of about $200m.
LOGOS head of Australia and New Zealand, Darren Searle said the Villawood property acquisition would greatly benefit both intermodal and logistics operators.
“To capitalise on the property’s strategic location and the future infrastructure development in the area, we will look to develop intermodal and logistic facilities to service the strong demand we are seeing from our existing and new tenants in this area for modern, high quality facilities,” he said.
“The acquisition also strengthens LOGOS’ relationship with Toll, with the group having developed three facilities for the global logistics provider.”
Mr Searle said they were pleased to be working with Toll on this strategic acquisition.
The Villawood property has been acquired by the LOGOS Australia Investment Venture, a partnership set up in late 2016 between LOGOS and Ivanhoé Cambridge to invest in prime, logistics assets across Australia. The property is LAIV’s sixth acquisition.