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Charter Hall secures Coles distribution centres

Property & Development
shopping cart in a supermarket picture id509177992
Arnold Bloch Leibler has advised Charter Hall Group on the development and long-term lease of two new high-tech Coles Customer Fulfilment Centres to be built in Melbourne (MidWest Logistics Hub in Truganina) and Sydney (Horsley Drive Business Park in Wetherill Park), with a combined lettable area of 60,000 square metres.

This comes off the back of ABL acting for Charter Hall on its recent pre-lease deals with Uniqlo, Toll and Bridgestone for a combined lettable area of 115,000 square metres at the same Midwest Logistics Hub in Melbourne.

As reported in the Financial Review, the centres will help boost the pre-leased development pipeline of Charter Hall's unlisted Charter Hall Prime Industrial Fund to about $1 billion. The deal will also expand Charter Hall’s existing relationship with supermarket retailers, which form part of its $4.3 billion shopping centre portfolio.

The ABL team advising Charter Hall was led by Tyrone McCarthy, who was assisted by Senior Associate Brianna Youngson and Lawyer Michael Repse. ABL advised on all aspects of the negotiation, finalisation and entry into all documents for the Coles, Uniqlo, Toll and Bridgestone transactions.

Brianna commented: "The Coles deal reflects the ongoing digital transformation of retailers and the need for warehouse space close to the customer base. The COVID-19 pandemic is urging retailers to increase the distribution capacity of their online sales channels at a more accelerated pace."

Charter Hall is an integrated property group with over 28 years' experience in property investment and funds management.

About Arnold Bloch Leibler 

Arnold Bloch Leibler is a premium Australian commercial law firm renowned for advising clients on their most important transactions, commercial issues and disputes. From offices in Melbourne and Sydney, the firm provides advice to a diverse range of entrepreneurial Australian listed companies, family businesses, high-net-worth individuals and international corporations. The firm also has a dedicated pro bono practice providing advice on social, environmental and cultural issues to more than 150 charitable and not-for-profit organisations.

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