This article is from the Australian Property Journal archive
CHARTER Hall’s industrial fund continues to build momentum, starting the new financial year with the acquisition of a Bunnings warehouse facility for $48.8 million within the City of Playford, Adelaide’s largest and fastest growing local council area.
The Direct Industrial Fund No.4 (DIF4) has acquired a Bunnings warehouse facility in Munno Para West, 40km from Adelaide’s CBD. The purpose-built facility is fully leased to Bunnings with a seven-year WALE.
Charter Hall Direct CEO Steven Bennett said the acquisition is inline with the fund’s strategy of securing high quality industrial properties positioned near major transport infrastructure and builds on its momentum in the industrial & logistic sector.
This follows 12 months of significant growth for the fund, completing $230 million in acquisitions over the past three months and $1 billion over the past 12 months, doubling its size since July 2020.
Charter Hall head of industrial transactions, Jack Walters, said, “Industrial & logistics continues to be a highly attractive sector for Charter Hall and the growth of the DIF4 fund reflects our high conviction and investor demand for these assets.
“In particular, we have been active in acquiring properties leased to tenant customers in the essential services and non-discretionary asset classes, which have continually demonstrated to be a resilient and defensive investment and served all of our funds very well.” Walters said.
The I&L sector continues to be a hot ticket asset class for institutions which remain underweight to the sector.
This week GPT confirmed it is in due diligence to buy Ascot Capital’s $800 million portfolio, whilst Goodman purchased a 125ha site in Melbourne’s west.
Charter Hall earlier this month acquired 17 assets for $560 million.
