Qube sells interest in Beveridge Property for $111m

The news: Logistics company Qube has announced the sale of its land interest at Beveridge in Victoria to global asset management firm C Capital for $111 million.

Qube shares fell 0.11% to $4.68 as of 1:33pm AEDT.

The context: The sale follows Qube’s prior announcement that it was considering its options in relation to its interest in the Beveridge Property. Qube said the transaction will deliver cash proceeds of $111 million and is expected to generate a pre-tax profit of approximately $100 million, to be recognised in Qube’s FY26 accounts.

What they said: "While the sale of our interest means Qube will not be an investor in the development of the precinct, it does not preclude Qube from being a user in the future and we continue to support the expansion of Australia's freight infrastructure to support economic growth in the transportation sector," Qube's managing director Paul Digney said.