Charter Hall Social Infrastructure REIT – Fund Update

Charter Hall Social Infrastructure Limited as Responsible Entity of the Charter Hall Social Infrastructure REIT (ASX: CQE) (CQE or the REIT) is pleased to provide Unitholders with an update regarding CQE’s recent activities.

 Settlement of South Australian Government Emergency Services Command Centre

CQE has settled the land and works completed to date for $23 million for the development of the new purpose-built South Australian Emergency Services Command Centre and adjacent multi-deck carpark, currently under construction. CQE will fund the remainder of the development on a progressive basis for a total consideration of $80 million with a coupon received of 5% during development. Completion is expected in October 2021. 

Divestments 

CQE has contracted to sell its remaining 20 New Zealand childcare properties for NZD$40.1 million, with settlement to occur in June 2021. The New Zealand portfolio consists of properties which have a WALE of 6.7 years as at 30 November 2020. The sale price represents an initial yield of 6.0% and is equal to the 30 June 2020 book value for these properties. 

CQE has divested its 15% interest in the unlisted Charter Hall CIB Fund for $18.4 million. 

Distribution

CQE is also pleased to confirm the declaration of a 3.75 cents per unit distribution for the quarter ending 31 December 2020, consistent with the forecast annual distribution of 15.0 cents per unit for FY21 announced previously. 

The distribution reinvestment plan will be active for this period. 

Announcement authorised by the Board. 

Charter Hall Social Infrastructure REIT (ASX: CQE) 

Charter Hall Social Infrastructure REIT is the largest Australian ASX-listed real estate investment trust (A-REIT) that invests in social infrastructure properties. 

Charter Hall Social Infrastructure REIT is managed by Charter Hall Group (ASX:CHC). With over 29 years' experience in property investment and funds management, we're one of Australia's leading fully integrated property groups. We use our property expertise to access, deploy, manage and invest equity across our core sectors - office, industrial & logistics, retail and social infrastructure. 

Operating with prudence, we've carefully curated a $43.4 billion diverse portfolio of over 1,300 high quality, long leased properties. Partnership and financial discipline are at the heart of our approach. Acting in the best interest of customers and communities, we combine insight and inventiveness to unlock hidden value. Taking a long term view, our $6.8 billion development pipeline delivers sustainable, technologically enabled projects for our customers. 

The impacts of what we do are far-reaching. From helping businesses succeed by supporting their evolving workplace needs, to providing investors with superior returns for a better retirement, we're powered by the drive to go further.