Cbus partners with Dexus on Jandakot Airport JV
Cbus Super, Australia’s leading building and construction industry super fund, has executed agreements to acquire a 33.3% interest in the Jandakot joint venture which holds the Jandakot Airport and industrial precinct in Perth, WA.
Cbus Super Chief Investment Officer Kristian Fok said he was excited by opportunities for further industrial and logistics development on the Airport site.
“We are delighted to be investing with Dexus in this high-quality property opportunity,” Mr Fok said.
“Jandakot Airport, with its industrial and logistics development pipeline, is an excellent fit for Cbus’ growing direct property portfolio and we look forward to seeing this investment deliver for members well into the future.
“We were attracted to this opportunity as it provides a large-scale investment that on completion of development will comprise an industrial and logistic estate with over 700,000m2 of accommodation.
“The property has the benefit of established infrastructure, including an airport, existing modern leased industrial and logistic assets and significant development potential which is expected to enhance returns in future.”
Alexandra Campbell, Cbus Super’s Head of Private Markets & Infrastructure, added the investment provides Cbus with the opportunity to both partner with Dexus and benefit from the Dexus industrial development platform which will be critical in securing and retaining tenants.
“This investment is in line with our strategy to increase our direct property investments via joint ventures with a select number of partners,” Ms Campbell said.
“Both of our organisations have runs on the board when it comes to leading some of Australia’s most significant developments.”
“The future development of the Jandakot Airport will unleash opportunities for West Australian industrial and logistics businesses, creating both new construction jobs and ongoing work for the local community.”
Media enquiries:
Tristan Douglas, 0417 736 434 or tristan.douglas@cbussuper.com.au
United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 as Trustee for the Construction and Building Unions Superannuation Fund ABN 75 493 363 262 (Cbus and /or Cbus Super). Refer to Cbus Product Disclosure Statement, Target Market Determination and Financial Services Guide for more information.
Cbus is the leading Industry Super Fund for the building, construction and allied industries. As one of Australia’s largest super funds, we provide superannuation and income stream accounts to more than 778,000 members and we manage over $67 billion of our members’ money (as at 31 October 2021). Our members include workers and retirees, their families and employers