Qube Holdings Limited (ASX:QUB), a provider of integrated logistics solutions servicing import and export supply chains, announced today that it has sold its interest in a 202-hectare parcel of land located in Beveridge, Victoria, to C Capital, an APAC asset manager. This decision follows earlier statements from Qube indicating the company was evaluating options regarding its stake in the property, which is part of the Beveridge Intermodal Precinct being developed by the National Intermodal Corporation.
The sale, which settled today, resulted in Qube receiving approximately $111 million in cash proceeds. The transaction is expected to generate a material pre-tax profit of approximately $100 million for Qube, which will be reflected in the company’s FY26 financial accounts. Due to its non-recurring nature and substantial amount, this profit will be classified as non-underlying.
Qube’s Managing Director, Paul Digney, expressed satisfaction with the deal, stating that Qube was able to realise considerable value from this long-term development asset without the need for further capital expenditure to advance the project. He added that while the sale means Qube will not be an investor in the precinct’s development, it doesn’t prevent Qube from potentially being a user of the facility in the future.
Digney affirmed Qube’s continued support for the expansion of Australia’s freight infrastructure to bolster economic growth, ease road congestion, and contribute to emission reductions within the transport sector. This announcement was authorised for release by Paul Digney, Managing Director of Qube Holdings Limited.
