Leasing Update - Bowen Hills
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Charter Hall Long WALE REIT (ASX: CLW) announces that it has entered into a lease for Building C, 56 Edmondstone Road, Bowen Hills, Brisbane to FUJIFILM Business Innovation Australia Pty Ltd, a subsidiary of FUJIFILM Business Innovation Asia Pacific Pte Ltd, and a company within the FUJIFILM Holdings Corporation group.
The three buildings at 56 Edmondstone Road totalling 12,427m2 were formerly occupied by Virgin Australia prior to it entering voluntary administration and vacating in September 2020. Fujifilm will lease the 2,865m2 Building C, for a term of 8 years, commencing in September 2021. This leasing transaction is expected to have a positive impact on the valuation of this property.
CLW Fund Manager, Avi Anger, stated: “It’s pleasing to be able to announce today’s leasing success at 56 Edmondstone Road, Bowen Hills. It takes place against a backdrop of reduced tenant demand and uncertainty arising from the COVID-19 environment. It reflects the attractive location and amenity available at this property and is the result of a concerted effort by Charter Hall to improve the occupancy and WALE at this property. We remain in discussion with other tenants about leasing up the remainder of the available space at this property and are optimistic about the opportunity for further leasing success in the near term.”
CLW re-affirms its previous FY22 Operating EPS guidance of growth of no less than 4.5% over forecast FY21 Operating EPS of 29.2 cents per security.
CLW will report FY21 Results on Monday 9 August 2021.
Announcement authorised by the Chair
Click here to view ASX announcement
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