As reported in the Australian Financial Review, the deal includes masterplan approval for a $300 million logistics estate which can accommodate large-scale warehouse and distribution facilities of up to 100,000 square metres. Charter Hall’s unlisted $7 billion industrial fund, CPIF, struck the five-year development management agreement with Western Sydney Parklands Trust (WSPT) to develop the Light Horse Hub.
Tyrone congratulated Charter Hall on the transaction: “We are pleased to have assisted Charter Hall with another milestone transaction. The estate has exciting prospects and we look forward to being involved with its development.”
In Charter Hall’s announcement, Managing Director and Group CEO, David Harrison, said “We are delighted to secure the leasehold interest in this strategic parcel of land from WSPT. This builds on our strong relationship with WSPT and is the third transaction we have undertaken with them, following the Horsley Drive Business Park and Bringelly Road Business Hub development projects which have secured long term lease commitments from major tenant customers such as Coles and Bunnings.”
ABL was also involved in the earlier transactions with WSPT.
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