DEMAND FOR SYDNEY AIRPORT LAND

LENDLEASE, Mirvac and Asian logistics giant ESR are among 18 major groups jockeying to buy Qantas’s 14ha of mostly undeveloped land surrounding Sydney Airport as the national carrier looks to pay down some of its multibillion dollar debt.

The buyer, which could also include the likes of Charter Hall, Goodman Group, AXA, or logistics group Logos, could develop a $2bn business park on the edge of Sydney International Airport.

Qantas would not comment on the identity of the potential purchasers but it said the response to the expressions of interest campaign that closed last week had been strong.

“It’s resulted in 18 competitive bids that we’re currently working through,” a Qantas spokesman said on Monday night.

“What’s been clear from the market is that there’s a lot of value in this land given how the surrounding area has developed over the past decade or so.

“Assuming we sell some or all of the 14ha that we took to the market, we’d expect to have agreements finalised in the next two months and complete the transaction by the end of the year.”

Qantas said the land was surplus to its operations.