Charter Hall acquires $353M Bunnings portfolio

Charter Hall Long WALE Hardware Partnership has acquired a $353 million portfolio of six Bunnings stores located in prime metropolitan markets across Australia. The Charter Hall platform now have in excess of $2.4 billion invested in 59 Bunnings stores.

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Logistics partnership for Charter Hall

Charter Hall Group Ltd will join two investors to acquire and manage Australian logistics properties.

In a statement to the Australian Securities Exchange, Charter Hall said the new company – the Core Logistics Partnership (CLP) had already acquired two assests worth a collective $103.1 million, Business Spectator reported.

The first is a logistics facility in Melbourne, which was acquired from Amcor Ltd on a 10-year sale and leaseback for $39.6 million.

The second is a 50 per cent tenant in common interest in the Metcash Distribution Centre at Canning Vale, Perth which was purchased for $63.5 million from the Australian Unity Diversified Property Fund.

Charter Hall joint managing director, David Harrison, said the group had been broadening its investment in the industrial industry.

He said Charter Hall was "pleased to be partnering with two high quality Australian institutional investors for this new, growing industrial portfolio."

“We expect to see continued acquisition opportunities across the industrial market over the next year and with the available capital, combined with debt capacity, CLP will look to grow this portfolio throughout 2013," Mr Harrison said.

"Once CLP’s current equity is fully deployed the partnership may also consider further growth beyond 2013."

The group’s investment with CLP brings Charter Hall’s managed Australian industrial portfolio to $1 billion.

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