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CHARTER HALL GROUP — Capital/Financing Update 2012
May 29, 2012
64645_rns_2012-05-29_1d6b9c4d-c9df-4011-8b26-7ac292dfadfe.pdf
Capital/Financing Update
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ASX/MEDIA ANNOUNCEMENT
CHARTER HALL’S DIF ACQUIRES $39.35M FACILITY IN HOPPERS CROSSING
Wednesday, 30 May 2012
Charter Hall Group (ASX:CHC) (the Group) today announced its Direct Industrial Fund (DIF) has acquired its fifth asset, the Woolworths (Masters Hardware) National Distribution Centre at 364-426 Old Geelong Road, Hoppers Crossing in Victoria, for $39.35 million.
The Woolworths National Distribution Centre is located in the established industrial locality of Hoppers Crossing, approximately 20 kilometres south-west of Melbourne’s CBD, with direct access to Melbourne’s major arterial linkages and transport infrastructures, including the Port of Melbourne and Melbourne Airport. The property, which incorporates approximately 52,364 square metres of modern high clearance logistics space and 5,354 square metres of canopies and loading docks, is 100% leased to Woolworths Limited and is used as its national distribution centre for its Masters Hardware business. The property has a weighted average lease expiry (WALE) of eight and a half years and is situated on a strategic 14.5 hectare site with approximately three hectares available for expansion.
Charter Hall’s Joint Managing Director, David Harrison, said: “Acquired at an initial yield of 8.1%, today’s acquisition increases DIF’s assets under management to $155 million within the defined equity raising period and given the target fund size of $200 million, provides the potential for the fund to acquire a sixth asset.
“Given the continued growth of the Australian economy and strong industrial property fundamentals, including low supply and rental growth, we anticipate the industrial market will continue to perform well,” Mr Harrison added.
The Woolworths National Distribution Centre is in line with DIF’s objective of acquiring well positioned prime-grade industrial properties with investment-grade tenants and sees the Fund’s WALE move to 12.5 years.
DIF’s portfolio now comprises five prime industrial properties located in metropolitan industrial markets across New South Wales, Queensland, Western Australia and Victoria, leased to national tenants including Australia Post, Coles Group, Grace Worldwide and Toll Holdings.
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For further information, please contact:
David Harrison
Joint Managing Director Tel: +61 2 8908 4033 [email protected]
David Southon
Joint Managing Director Tel: +61 2 8908 4025 [email protected]
Investor enquiries:
Kylie Ramsden Head of Listed Investor Relations Tel: +61 2 8295 1016 [email protected]
Media enquiries:
Rachel Mornington-West
Head of Marketing and Communications Tel: +61 2 8908 4093 - rachel.mornington [email protected]
About the Charter Hall Group:
Charter Hall Group (ASX:CHC) is one of Australia’s leading fully integrated property groups, with 20 years’ experience managing high quality property on behalf of institutional, wholesale and retail clients. Charter Hall has circa $9 billion of funds under management across the office, retail, industrial and residential sectors. The Group has offices in Sydney, Melbourne, Brisbane, Adelaide and Perth.
The Group’s success is underpinned by a highly skilled and motivated team with diverse expertise across property sectors and risk-return profiles. Sustainability is a key element of its business approach and by ensuring its actions are commercially sound and make a difference to its people, customers and the environment, Charter Hall can make a positive impact for its investors, the community and the Group.
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