Charter Hall Group (ASX:CHC) (the Group) today announces a strong start to FY19 with updated FUM, equity flow, transactions and leasing activity, along with the successful completion of the Folkestone Limited acquisition. Key highlights for the period include:
Operational highlights
• Completed $205 million acquisition of Folkestone Limited, which comprises $1.6 billion of FUM
• Combined with a further $1.4 billion of net acquisitions, FUM has grown to $26.4 billion
• Increased portfolio of 779 properties across the office, industrial, retail and social infrastructure sectors comprising a weighted average lease expiry (WALE) of 7.7 years, occupancy of 97.9% and weighted average capitalisation rate (WACR) of 5.76%
• 156 leasing deals executed across 172,000 sqm of space in the office, industrial and retail sectors
• Total development pipeline of 37 office, industrial and retail projects with an on-completion value of $3.7 billion, de-risked through pre-leases and fixed price building contracts.
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