Charter Hall's $7.0 billion wholesale flagship industrial fund CPIF acquires a $106 million life sciences campus from GSK
28 May 2021 - Charter Hall’s leading $7.0 billion wholesale industrial and logistics fund, CPIF, has announced the acquisition of a $106 million life sciences campus in Boronia, Melbourne from GlaxoSmithKline (GSK).
The facility is currently used by GSK as their Australian manufacturing hub for high-volume products and “Blow-Fill-Seal” manufacturing. GSK will lease back the property for 2.3 years on triple net terms from settlement with annual CPI reviews.
The site consists of a substantial 16.8ha property with 33,878sqm of pharmaceutical grade, campus style improvements comprising a mixture of high clearance warehouse (temperature controlled and ambient), corporate office and laboratory accommodation. The site’s low 20% site coverage offers multiple strategic options to create long-term secure income streams and add incremental value through redevelopment.
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