AUSTRALIA | Charter Hall Group has deepened its long-standing national cross-sector partnership with ALDI.
The Group has supported ALDI’s growth in its national operations and supply chain efficiency through a new large-scale warehouse and office facility in Tarneit, Victoria, and an expansion of its existing facility in Brendale, Queensland.
At Tarneit Logistics Hub, owned by Charter Hall’s flagship AUD 14 billion industrial & logistics fund CPIF, ALDI has committed to a 20-year pre-lease agreement and is developing a new large-scale 102,000 square metre (sqm) ambient and temperature-controlled warehouse and office facility.
The facility will also be equipped with automation technology throughout, underpinning the strategic location and exceptional value that Tarneit provides to ALDI as it expands its operations in the region.
Practical completion of the base building is expected by the end of this year, with automation commissioning to occur thereafter.
“As demand for industrial & logistics space continues to outpace supply, it’s increasingly difficult for businesses like ALDI to be able to secure large-scale sites that allow for automation while also having proximity to major infrastructure and metro areas, enabling effective cost management and supply chain efficiency,” said Charter Hall Industrial & Logistics CEO Richard Stacker .
“The expansion of our partnership with ALDI reflects the strength of our relationship and the value that our scale and national footprint provide our tenant customers, particularly those that are heavily investing in strategic growth across the country. Importantly, by curating a portfolio of high-quality, well-located, best-in-class assets across the country, we’ve demonstrated our ability to attract, retain and partner with our valued tenant customers as their businesses grow, while also delivering sustainable returns for our CPIF investors.”
ALDI has also extended its existing tenancy at the Brendale Distribution Facility in Queensland, owned by CPIF, for an additional 8-year lease, with a 13,500sqm extension to the ambient warehouse and office space, and has also signed an 8-year pre-lease for an additional 9,000sqm freezer, expanding its total footprint to 22,500sqm. Practical completion of the new facility is expected in July this year.
With these leases, Charter Hall’s Industrial & Logistics partnership with ALDI now spans 378,000sqm across nine sites, while Group-wide ALDI leases 407,000sqm across 27 sites.
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