The company has a well-diversified portfolio across five sectors. Source: Pixabay from Pexels.
  • Charter Hall records strong performance for first half of FY2021 despite COVID-19
  • Company's investment portfolio generated a 10.9% total investment return
  • Company's fund management portfolio is well-diversified

Charter Hall, one of Australia’s leading property fund managers has reported another successful six-month period for the first half of the financial year (FY2021).

Charter Hall’s Managing Director and Group CEO, David Harrison said that despite the challenges presented by COVID-19, the company have been well protected by their on-going focus on long WALE properties leased to high quality tenants.

“Our Wholesale Partnerships have had a particularly strong six months with new partnerships created with sovereign wealth fund GIC to house the Ampol portfolio, an expansion of our Aldi supermarket logistics partnership with Allianz, PGGM undertaking a new logistics partnership, and QuadReal investing in a new development project at North Quay in Brisbane.”

During the period, the company’s property investment portfolio of $2 billion generated a 10.9% total investment return. Portfolio occupancy remained strong at 97.1% and the Weighted Average Lease Expiry (WALE) improved from 8.7 to 9.1 years.

The company’s fund management portfolio, which is well-diversified across 5 sectors grew by $5.8 billion in 6 months to $46.4 billion. This growth was driven by $3.5 billion of net acquisitions, positive revaluation of $1.1 billion, and capital expenditure on developments of $1.2 billion.

The Group experienced $2.8 billion of gross equity allotment comprising $766 million in Wholesale Pooled Funds, $1.1 billion in Wholesale Partnerships, $392 million allotted in Listed Funds, and $520 million in Direct Funds.

Mr Harrison added that despite the transactional activity in the first half, the platform still enjoys $6.4 billion of investment growth capacity plus committed and uncalled equity.

“This leaves us well-positioned to continue growing via our development pipeline as well of taking advantage of strategic opportunities as they arise.”

Capital management remains a key focus with $3.7 billion of new and refinanced debt facilities during the period and no material maturities in FY21 or FY22. The company remains financially flexible, with funding capacity remaining at a substantial $6.4 billion.

You May Also Like

Network members internally acquire Laing+Simmons

15 network members have purchased the franchise

M/Construction’s successful Quest

A recent project by the Perth-based construction firm saw a floor being completed every two weeks..

Mulpha announces release of luxury villas

Mulpha Australia has released 15 luxury villas in the tropical surrounds of Hayman Island

Victorian Cladding ban now in effect

Several wall cladding products are now prohibited from being used when performing any Type A or Type B construction work in Victoria