27 January 2017

KWM assists Qube reach financial close for Moorebank Intermodal project

King & Wood Mallesons (KWM) is delighted to have worked with Qube Holdings Limited on its achievement of financial close for the A$2b Moorebank Intermodal Precinct Development project – which will transform the freight and logistics supply chain along the east coast.

This important milestone is the final step in enabling the commencement of substantial works on the 243ha site at Moorebank, starting with the construction of the import export terminal with initial capacity of 250,000 TEU, rail links to the Southern Sydney freight line and container processing areas. The project will also involve the development of up to 850,000 sqm of integrated warehousing.

Qube will develop, own and operate the terminals and has the development, property and asset management rights for associated warehousing.

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.

Maurice James, Qube’s Managing Director, announced to the market;  “Linking one of the nation’s busiest ports by rail to an inland facility with the sheer scale and location benefits of the Moorebank site is a game changer that will deliver long term benefits to both business and consumers.”

Commenting on KWM’s role, Mr James said; “We needed a law firm that would partner with us drawing together the best infrastructure and real estate expertise in the market and KWM certainly delivered the high quality product we needed.”

KWM Infrastructure Partner, Mark Upfold added; “We are delighted to have assisted Qube Holdings in reaching its financial close milestone on Moorebank intermodal.  Working alongside the Qube team was a terrific experience, with the successful transaction demonstrating the market leading capabilities of KWM’s Infrastructure and Real Estate practices.”

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

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