Pacific National, Australia’s largest private rail freight operator, with the support of Maddocks has sold the St Marys Intermodal Terminal in Sydney to PGIM Real Estate and Cadence Property for $145m. 

The team led by Cameron Thomson and Special Counsel Alex Foo, with additional support from Special Counsel Scott Mannix from the Commercial team, provided strategic advice to Pacific National on this complex transaction involving critical infrastructure with long-term value for Australia’s growing logistics and transport sector. The site’s potential for future development, such as additional railway tracks to boost connectivity, added further complexity to the deal.

The terminal provides direct freight rail access to Port Botany, offering an alternative to road freight with estimates that it alleviates approximately 3,000 truck movements across Sydney, per day, providing significant economic, traffic, and environmental benefits for the city. The strategic location of the terminal and its functionality made it an attractive investment, with potential for long-term operational benefits. 

Our team worked very closely with Pacific National’s in house legal team and advised Pacific National across all stages of the transaction, including structuring, due diligence, contract negotiation and execution. This transaction highlights the team’s deep sector expertise and its ability to navigate the commercial complexities in high-value property deals.

Cameron says “We’re proud to support Pacific National on this significant transaction and pleased to play a role in deepening the firm’s relationship with this valued client. This complex cross-functional deal underscores Maddocks’ expertise in advising on critical infrastructure transactions, where strategic insight and commercial acumen are essential."