Charter Hall Long WALE fund value lifts

Retail assets, including Sydney’s David Jones store which cost $510m in December – comprise 30.5pc of the trust’s value.

A Charter Hall trust – responsible for about a tenth of the group’s funds under management – has recorded a 7.6 per cent uplift following re-valuations.

Charter Hall WALE Limited’s chair Peeyush Gupta (left) with Avi Anger.

The Charter Hall Long WALE REIT (CLW) is today worth $5.3 billion – up $373.4 million in the six months to June.

The portfolio’s capitalisation rate is now 4.76pc – down 38 basis points.

“All our sectors reported improvements in valuations, with particular strength in our…retail, industrial and agri-logistics assets,” fund manager Avi Anger said.

“It is pleasing to see the results of our assets and sector selection being rewarded,” he added.

Based on capital value, retail real estate still comprises the majority of CLW’s portfolio – at 30.5pc (story continues below).

This is followed by office (25.8pc), industrial and logistics (22pc) and social infrastructure (15.7pc).

Agri-logistics properties rose by the greatest amount when expressed as a percentage – up 25.7pc, to $302.3m.

All up, 458 investments, representing 92pc of the fund by gross asset value, were re-priced.

Several assets acquired in May – including the fund’s share in four eastern state offices which cost a total of $780m (one in Albury, pictured, top) – were not needed to be assessed.

An as-yet-undeveloped Bunnings in Caboolture, 51 kilometres north of Brisbane, for which CLW agreed to pay $28.1m in December, was also excluded.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of