News

Cbus Property Acquires Historic Inglis Newmarket Stables

14th Aug 2015

Another chapter in the history of William Inglis and Son Ltd has been written today, with Managing Director Mark Webster announcing the sale of the iconic 5ha Newmarket property in Randwick to Cbus Property, an Australian company and wholly owned subsidiary of Cbus, an industry superannuation fund with 780,000 members.

Inglis will continue to operate its headquarters and Sydney auction business from Newmarket for the next three years, when the company will relocate to a larger site at Warwick Farm in Sydney’s west.

Inglis received approval in April of this year to rezone the site from the NSW Planning and Environment Department.

Colliers International’s Robert McCuaig, Jon Chomley and Guillaume Volz managed the transaction on behalf of the Inglis.

"We are thrilled that a subsidiary of an Australian superannuation fund has acquired this historic property,” said William Inglis & Son Deputy Chairman, Arthur Inglis. “We feel it is very positive that everyday families will be able to own a piece of Australian history and enjoy what has been a very treasured property of our family-owned company."

The exclusive development is expected to accommodate approximately 750 dwellings including over 5,000 square metres of outdoor space and public facilities.

"We are delighted to have secured this landmark site in Sydney’s eastern suburbs” said Adrian Pozzo, CEO Cbus Property. "We will ensure that this property is preserved in all its grandeur for generations to come as well as maximising the full value of this iconic asset in Sydney’s inner suburbs."

ABOUT WILLIAM INGLIS & SON

William Inglis & Son Ltd is a family owned company that commenced operations in 1867 selling farm produce. Soon after the company expanded into selling a wide range of livestock, horses, vehicles and other machinery at a number of sites throughout Sydney, the most notable being the auction house situated on Pitt Street in the Sydney CBD. The company also owns and operates a major horse selling centre at Oakland’s Junction, located near Melbourne Airport in addition to a digital media and insurance broking business.

Inglis commenced selling at Newmarket in 1906 and purchased the property in 1917. The complex covers 5ha of land and can accommodate up to 620 horses. Newmarket is home to the internationally renowned Easter Yearling Sale and Australian Broodmare and Weanling Sale. Both sales attract the best quality thoroughbreds for auction from Australia and New Zealand, and are attended by leading trainers, owners and bloodstock agents from around the world.

ABOUT CBUS PROPERTY

Cbus Property is a wholly owned subsidiary of Cbus, the industry superannuation fund for the construction, building, infrastructure & allied industries with funds under management currently exceeding $31 Billion. Cbus is a significant indirect and direct investor in the property industry throughout Australia and has in excess of 780,000 members nationally and more than 79,000 employer affiliates who contribute to the fund on behalf of their employees.

Cbus Property has responsibility for the strategic performance & management of all aspects of the Cbus direct property investment business which includes major investments and developments in the commercial, residential, industrial and retail sectors. Cbus Property is a unique property investor and developer with the company's core business a reflection of Cbus' philosophical commitment to investing in the Property and Construction Industry, which employs its members.

Cbus Property has extensive experience in undertaking sustainable initiatives within Australia and is committed to utilising its considerable experience in investment and delivery of developments that provide a benchmark for both economic and environmental sustainability. For further information visit www.cbusproperty.com.au

For further information please contact:
Mark Webster
William Inglis and Son Ltd
Managing Director
Phone: (+612) 9399 7999

Kim Ness
Cbus Property Pty Ltd
Phone: (+613) 9660 3413