Charter Hall Long WALE REIT
CHLWF
Other OTC- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- CEO
- David William Harrison
- Sector
- Real Estate
- Industry
- REIT - Diversified
- Address
- Level 20 Australia
- IPO Date
- Jun 3, 2021
- Website
- charterhall.com.au
- Similar Companies
- Business
- Charter Hall Long WALE REIT (ASX:CLW) is an Australian Real Estate Investment Trust that invests in a diversified portfolio of high quality real estate assets predominantly leased to corporate and government tenants on long-term leases with a weighted average lease expiry (WALE) of approximately 9.7 to 10 years. The REIT's core property holdings, valued at around AUD 5.5 billion as of December 2024 and comprising over 500 properties, span multiple sectors including office, industrial and logistics, long WALE retail (such as convenience retail, hardware and hospitality assets leased to Endeavour Group and others), social infrastructure, telecommunications exchanges (50% interest in 36 properties leased to Telstra Corporation Limited), and agri-logistics assets (previously including 27 properties fully leased to Ingham's Group Limited); approximately one-third of income derives from balance sheet properties and the remainder from co-investments in joint ventures, with 53% of leases structured as triple net, 99.8% occupancy, and rental uplifts split between CPI-linked and fixed increases. Managed by Charter Hall Group, Australia's leading integrated property investment and funds management platform with over AUD 83 billion in funds under management, the REIT targets institutional, wholesale and retail investors seeking stable income and capital growth potential through active portfolio management across Australasian markets, primarily on Australia's eastern seaboard. Established in 2016 through a landmark initial public offering and headquartered at Level 20, No. 1 Martin Place, Sydney, New South Wales, the REIT operates exclusively in Australia with a focus on defensive, essential services assets leased to high-covenant tenants such as government entities, multinationals like Telstra and Coles, and national operators. In recent developments during the half-year ended December 2024, the REIT completed a AUD 50 million on-market security buy-back program, divested AUD 300.4 million in assets (including the full Inghams agri-logistics portfolio for AUD 225.3 million, a 50% interest in the Australian Red Cross facility for AUD 74 million, and a 24.5% stake in a BP service centre), and strategically acquired AUD 11.5 million in adjoining hospitality assets leased to Endeavour Group (Narrabeen Sands Hotel accommodation with a 9.3-year lease and BWS Crows Nest with a 10-year lease). Further, it executed a major lease expansion and 12-year reset with Coles at the Perth Airport Distribution Centre, refinanced AUD 310 million in debt extending maturities by 2.8 years to a 4.0-year average, maintained balance sheet gearing at 31.8% within its 25-35% target, and received reaffirmed Baa1 investment grade rating from Moody's, alongside 3.5% like-for-like net property income growth and broadly stable valuations. Quarterly distributions of 12.5 Australian cents per security were declared for the period, supported by operating earnings of AUD 89.8 million.