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Charter Hall WALE Limited (Responsible Entity), as responsible entity of Charter Hall Long WALE REIT (ASX:CLW) (CLW or the REIT) today announced that:
For the period ending 31 December 2018, 79 properties, or 78% of the portfolio by valuation, were independently valued. The remaining six properties were all purchased within the past six months supported by independent valuations and had not been revalued at 31 December 2018. On this basis, the entire portfolio will have been subject to external valuations within the past 6 months, consistent with the REIT’s valuation policy.
The revaluations show an increase of $30.6 million, reflecting a 1.9% increase in portfolio value prior book values. The portfolio's weighted average capitalisation rate compressed by 7 bps to 6.04%.
|Pro forma June 2018|
|Valuation ($m)||Cap Rate (%)||Valuation ($m)||Cap Rate (%)||Valuation ($m)||Valuation ($m)||Cap Rate (%)|
|Office (2 assets independentley valued)||488.8||6.02%||495.5||5.97||6.7||1.4||(5bps)|
|Industrial (19 assets independentley valued)||701.8||6.31||710.7||6.25||8.9||1.3||(6bps)|
|Retail (58 assets independentley valued)||434.7||5.89||449.8||5.79||15.0||3.5||(10bps)|
Distribution and DRP
The REIT declares a distribution of 6.5 cents per security for the quarter ending 31 December 2018. For further details please see the notification of distribution released separately to the ASX.
In addition, the REIT announces the Distribution Reinvestment Plan has been reactivated for the 31 December 2018 distribution.
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