PHOTO: Qantas Airways. FILE
It’s a tough time to be trying to sell airline tickets – but Qantas Airways is having much more success drumming up buyers for a $550 million-odd property portfolio.
Qantas and its real estate agents, Colliers, received expressions of interest for the company’s up-for-grabs properties last week and have shortlisted parties for the auction’s second round.
It is understood Colliers is calling for bids by Friday, September 17, and has expectations of offers at or above $550 million.
ASX-listed giant Goodman Group, which is a hungry acquirer of anything logistics in Sydney south of the CBD, is the early favourite, but likely to come up against competition from familiar sparring partners including Charter Hall and Logos.
ESR, which recently outlaid $3.8 billion for Blackstone’s Milestone, is also among the shortlisted parties.
Up for grabs is several major Mascot landholdings covering almost 14 hectares in the heart of South Sydney’s booming industrial precinct.
The airline has owned some of the land since the 1960s and decided to sell following a wide-ranging property review which confirmed the Qantas headquarters will remain in Sydney.
Analysts have it in their spreadsheets a “few hundred million dollar” type sale, although property types reckon it could surprise on the upside.
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