Charter Hall and GIC acquire $682m stake in $1.4bn Ampol portfolio

2 mins

by Charter Hall Announcements

To access this part of the website, please select your country of residence from the following list.

The country of my primary residence is:

Due to legal restrictions, access to this website is only available to residents of Australia and New Zealand from within Australia or New Zealand. In order to access this website, you must provide the State, Territory or Province and postcode for your primary residential address within Australia or New Zealand.

The State or Territory of my primary residence in Australia or the Province of my primary residence in New Zealand is:

The postcode for my primary residence in Australia is:

Proceed

The State or Territory of my primary residence in Australia or the Province of my primary residence in New Zealand is:

The postcode for my primary residence in New Zealand is:

Proceed

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:

you are not in the United States or a “U.S. person”, as defined in Regulation S under the U.S. Securities Act of 1933, as amended (“U.S. Person”), nor are you acting for the account or benefit of a U.S. Person;
you will not make a copy of the documents on this website available to, or distribute a copy of such documents to, or for the account or benefit of, any U.S. Person or any person in any other place in which, or to any other person to whom, it would be unlawful to do so; and
the state, territory or province and postcode provided by you below for your primary residence in Australia or New Zealand are true and accurate.

I agree to the above terms Yes or No.

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 Group (ASX:CHC) announces that it has created a partnership with GIC, Singapore’s sovereign wealth fund, to acquire a 49% stake in the Ampol Property Trust which will own 203 convenience retail properties throughout Australia.

The Ampol portfolio will have initial lease terms ranging from 11 through to 22 years, a 19.2 year WALE and 10 year initial option terms, plus multiple 5 year options thereafter. The properties will be subject to CPI annual rent reviews, with minimum 2% and maximum 5% increases per annum.

Charter Hall Group will own 5% or $34 million of the Charter Hall partnership, or a look through interest of 2.45% in the Ampol portfolio.

Managing Director and Group CEO David Harrison said:

“This off market transaction follows regular dialogue with the Ampol team over the past 2 years and reinforces our confidence in the convenience retail sector. The extension of our 15-year relationship with GIC further grows the breadth of this multi- sector relationship and reflects our strong market position and continued conviction for Long WALE assets with strong underlying investment fundamentals.”

Announcement authorised by the Chair and Managing Director and Group CEO

Click here to view ASX announcement

Charter Hall and GIC acquire $682m stake in $1.4bn Ampol portfolio

Share this page

Talk to us

We're here to help.

Investor centre

Property solutions

Why Charter Hall