By proceeding you confirm that you are a resident of Australia or New Zealand accessing this website from within Australia or New Zealand and you represent, warrant and agree that:
Unfortunately, legal restrictions prevent us from allowing you access to this website. If you have any questions, please contact us by e-mail by clicking on the link below.
Charter Hall Long WALE REIT (ASX:CLW) (CLW or the REIT) today announced the divestment of the Grace Worldwide at 420 Sherbrooke Road, Willawong, Brisbane, for a total consideration of $38.73 million in line with book value.
The property is fully leased to Grace Worldwide, a record management, removals and storage company in Australasia, for a remaining period of 5.3 years (as at 31 March 2018). The sale to Grace Worldwide (Australia) Pty Ltd is as a result of the tenant exercising its right to purchase the property at market valuation under the terms of the lease. This is the only CLW property where the tenant has a call option.
Fund Manager, Avi Anger commented on the transaction:
“The divestment of this asset at book value reinforces the market value of properties in the CLW portfolio. This transaction provides the REIT a good opportunity to reinvest the proceeds of this sale into a longer WALE property consistent with the REIT’s long WALE strategy.”
This transaction does not impact on our prior FY18 earnings guidance which remains unchanged.
Thanks for your interest in Charter Hall. Fill in your details below and we’ll get back to you as soon as possible.
I am interested in
Enquiry
*Indicates that this field is required.
All personal information submitted will be treated in accordance with our privacy policy.
By registering and/or submitting personal data to Charter Hall, you agree that, where it is permitted by law and in accordance with our Privacy Statement or where you have agreed to receive communications from us, Charter Hall may use this information to notify you of our products and services and seek your feedback on our products and services. Please note you can manually opt out of any communications.
© Charter Hall Group, 2025.