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Charter Hall Long Wale REIT Announces Inghams Portfolio WALE Extension to 24.6 Years

08 Feb 2019  |  16:55:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Inghams portfolio WALE extension to 24.6 years

Charter Hall Long WALE REIT announced that it has entered into an agreement with Inghams in relation to an extension of the lease terms on several properties in the portfolio which was acquired by the Company. The leases of properties representing 62% of the acquired portfolio by income have been extended for terms ranging from 22 years to 34 years. This has resulted in the Inghams portfolio WALE increasing from 15.8 years to 24.6 years. The REIT will provide Inghams with an $8m capital incentive as part of this arrangement. Including the extensions, the Company's pro forma portfolio WALE as at 31 December 2018 increases from 11.6 years to 12.6 years.

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