Charter Hall Long WALE REIT announced the acquisition of a 25% interest in the Geoscience Australia property, Canberra (Property). CLW has partnered with two other Charter Hall managed funds to acquire this unique social infrastructure asset. The Property has been purchased for $90.9 million1 (CLW 25% share) on a 7.4% initial yield, a 9.6-year WALE, 3% fixed annual rent increases and a net lease structure where the tenant is responsible for all property outgoings.

Situated on a large 160,378 sqm site, the Property is located at 101 Jerrabomberra Avenue, Symonston, ACT, approximately 7 kms from the Canberra CBD. The Property comprises a specialized life sciences complex of 32,659 sqm of lettable area across three separate buildings including office, specialised laboratory and storage, warehousing, childcare facilities and parking for 652 vehicles. The Property is fully leased to Geoscience Australia.