Charter Hall Long WALE REIT - December 2021 portfolio valuation update, divestment of 56 Edmondstone Road, Bowen Hills and December quarter distributionright-arrow
read-time2 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:

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:

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.

Contact Us

Charter Hall Long WALE REIT (ASX: CLW) today announces the results of December portfolio valuations, the divestment of 56 Edmondstone Road, Bowens Hills, Brisbane and the December quarter FY22 distribution.

December 2021 portfolio valuations

CLW had 95% of the portfolio by gross asset value independently valued as at 31 December 2021.

The valuations resulted in a $529 million, or 8.1% uplift on prior book values, increasing the overall portfolio value from $6,511 million1 to $7,040 million during the six month period to 31 December 2021. The portfolio’s weighted average cap rate has compressed 37bps from 4.78%1 to 4.41%.

The unaudited impact of the valuations announced today are expected to increase CLW’s estimated pro-forma June 2021 NTA per security from $5.111 to $5.85, a $0.74 or 14.4% increase2.

Divestment of 56 Edmondstone Road, Bowen Hills, QLD

CLW is also pleased to announce today that it has contracted to sell 56 Edmondstone Road, Bowen Hills, Brisbane for net price of $70.9 million. Settlement is expected to occur on 22 December 2021.

Post divestment of this property, CLW’s portfolio valuation and average cap rate as at 31 December 2021 is forecast to be $6,982 million and 4.39% respectively.

December Quarter FY22 Distribution

CLW also declares the distribution for the quarter period ending 31 December 2021 of 7.62 cents per security.

The distribution reinvestment plan will be active for this period.

CLW will report the REIT’s Half-Year FY22 Results on Tuesday, 8 February 2022.

Announcement Authorised by the Board

Click here to view ASX Announcement

1 As at 30 June 2021, adjusted to include all property acquisitions that have settled or are expected to settle in the six month period to 31 December 2021 inclusive of the acquisition of a 50% interest in the ALE Property Group expected to settle on 17 December 2021, capital expenditure and additions during the period
2 Subject to audit and finalisation of 31 December 2021 statutory accounts (including confirmation of the NZD/AUD exchange rate as at 31 December 2021) and excluding any movement of interest rate derivatives during the period