The Qube Holdings Ltd (ASX: QUB) share price is in focus after the company confirmed it has sold its 202-hectare Beveridge property in Victoria, booking about $100 million in pre-tax profit, to be recognised in FY26.
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What did Qube Holdings report?
- Sold its interest in a 202-hectare Beveridge (Victoria) land parcel
- Received cash proceeds of approximately $111 million
- Expects a pre-tax profit of around $100 million, to be reflected in FY26
- Profit is classified as non-underlying due to its one-off nature
What else do investors need to know?
The Beveridge land sits within the Beveridge Intermodal Precinct, which is currently being developed by National Intermodal Corporation, a government business enterprise. The buyer, C Capital, is an Asia-Pacific asset manager.
Qube had previously flagged it was reviewing options for its interest in the site. The company highlighted that this sale allows value realisation without the additional capital expenditure that development would have required.
What did Qube Holdings management say?
Qube's Managing Director, Paul Digney, said:
We are very pleased that Qube has been able to realise significant value from this long-term development asset without needing to undertake the capital expenditure that would otherwise be required to progress the development.
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, reduce road congestion and contribute to the task of reducing emissions in the transport sector.
What's next for Qube Holdings?
Qube expects the profit from the Beveridge sale will be recognised in its FY26 accounts, strengthening its balance sheet. The company remains committed to the freight and logistics sector, with ongoing support for Australia's intermodal infrastructure growth.
While Qube steps back from direct investment in the Beveridge Intermodal Precinct, it may participate as a user in the future. Management emphasised continued focus on core assets and prudent capital allocation.
Qube Holdings share price snapshot
Over the past 12 months, Qube Holdings shares have risen 18%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 3% over the same period.
