This article is from the Australian Property Journal archive
QUBE has launched a $350 million equity raising to fund the development at Moorebank Logistics Park, the largest intermodal precinct in Australia.
Earlier this month, Qube officially commenced development at Moorebank and is now in advanced discussions with a number of potential tenants for the development.
Managing director Maurice James said the new warehousing at Moorebank is intended to be built on demand and with pre-commitments from tenants.
“To support its funding for the new warehousing and growth capex initiatives, and further strengthen Qube’s balance sheet to provide liquidity to pursue additional strategic growth opportunities, Qube will undertake a fully underwritten $350 million equity raising,” James said.
James said following the equity raising, Qube will have adequate liquidity to fund the warehousing investment and other organic growth capex, while retaining capacity to pursue additional strategic growth opportunities.
Australian Property Journal
