Charter Hall completes $50 million estate in Adelaide, 100% pre-leased to blue-chip companies

Charter Hall Group (Charter Hall or the Group) is pleased to announce the completion of its $50 million Edinburgh Logistics Park (the Estate), a new, purpose-built development at 10-30 Tappa Road, 25km north of Adelaide.

The Estate is fully pre-committed to two blue-chip tenant customers - The Smith's Snackfood Company and Australian Pharmaceutical Industries (API), who is an existing customer occupying a purpose-built facility in Charter Hall's Brisbane portfolio. These pre-commitments underscore the ongoing demand for high-quality, modern logistics infrastructure in Adelaide.

The Smith's Snackfood Company has committed to a 15,480sqm warehouse and office facility. The facility includes a 2,700sqm awning and is designed with a cross-dock configuration, dual-sided loading and generous internal clearances. It is targeting a 5 Star Green Star rating, with solar, EV chargers, rainwater reuse, LED lighting and low-VOC finishes.

Australian Pharmaceutical Industries (API), part of Wesfarmers Health, has committed to an 8,920sqm purpose-built warehouse and office facility on a 15-year lease. The facility includes an 8,350sqm automated and temperature-controlled warehouse incorporating cool room and freezer capability to support pharmaceutical storage and distribution. It also includes a solar system and EV chargers, with the layout designed to enhance operational efficiency.

Fund Manager Simon Greig commented, "Reaching completion at Edinburgh Logistics Park is an important milestone and we're pleased to welcome The Smith's Snackfood Company and API to the Estate, two strong tenant covenants operating in resilient industries. By investing in modern, sustainable logistics developments like this, we continue to enhance the quality of this $2.7 billion portfolio, which consists of predominately modern long-leased assets developed over 10 years. As a result, our strategy continues to support customer growth and deliver enhanced returns to Charter Hall partnership investors."Charter Hall Industrial & Logistics CEO Richard Stacker commented, "The Adelaide market continues to attract major manufacturers and operators, and we remain focused on bolstering the supply of high quality, well-located and sustainable industrial & logistics assets to meet the supply chain requirements of our customers. Charter Hall's South Australian Industrial & Logistics portfolio now comprises 20 properties valued at $1.3 billion, reflecting the state's importance as a national logistics, manufacturing and distribution hub."