Charter Hall Acquires Three Queensland Industrial Assets for $192.4 Million

Charter Hall has expanded its Queensland industrial portfolio with the acquisition of three logistics and industrial assets in Brisbane's south and west for a combined $192.4 million, the firm announced Aug. 31.

The transactions were completed through Charter Hall Prime Industrial Fund (CPIF) and the newly established Charter Hall Industrial Partnership 6 (IP6), a 50:50 joint venture between CPIF and a major domestic capital partner. All three properties are fully leased to national corporate tenants on long-term triple-net structures, with initial yields on two of the assets ranging from 5.65% to 5.75%.

Three-Asset Portfolio Spans Brisbane's Industrial Corridors

The acquisitions comprise a logistics facility in Darra, an industrial outdoor storage facility in Willawong and a healthcare and pharmaceutical distribution centre in Acacia Ridge — each secured by a separate long-term lease to an established operator.

The largest acquisition by price is the PrixCar industrial outdoor storage facility at 108 Burman Road, Willawong, purchased for $74.5 million. The 8.9-hectare purpose-built facility is fully leased to automotive logistics operator PrixCar and creates a consolidated landholding of approximately 23 hectares across adjoining sites for IP6. The acquisition includes a 6.5-year lease extension, bringing the weighted average lease expiry across the combined holding to 20 years. The asset was acquired by IP6.

The second-largest transaction is the Australia Post logistics facility at 39 Gravel Pit Road, Darra, acquired for $70.15 million at an initial yield of 5.75%. The 21,757-square-metre facility was acquired through a sale-and-leaseback with Australia Post and is secured by a new 10-year triple-net lease. Located in Brisbane's western industrial corridor, the property was also acquired by IP6. The transaction brings IP6's portfolio to three assets with a total value exceeding $650 million.

The third asset, a 12,856-square-metre healthcare and pharmaceutical distribution facility at 51 Peterkin Street, Acacia Ridge, was acquired by CPIF on a 100% freehold basis for $47.75 million at an initial yield of 5.65%. The property is leased to Symbion, part of EBOS Group, under a 15-year triple-net lease.

Industrial Outdoor Storage and Long-WALE Logistics Drive Strategy

The Willawong acquisition reflects growing investor demand for industrial outdoor storage assets, a property type characterised by low building coverage and high land value, driven by scarcity of appropriately zoned industrial land and demand from automotive, construction and logistics users. By assembling approximately 23 hectares across adjoining sites, Charter Hall is building scale in a land-constrained submarket.

The Darra sale-and-leaseback follows a broader pattern of postal and logistics operators monetising owner-occupied real estate while retaining long-term operational control through new lease arrangements. The 10-year triple-net structure transfers most outgoings and capital expenditure obligations to the tenant.

Across the three assets, the portfolio's two disclosed initial yields — 5.75% at Darra and 5.65% at Acacia Ridge — place the acquisitions in the mid-5% range, consistent with pricing for prime Brisbane industrial stock secured by long-term covenants in 2026.

Executives Cite Queensland Fundamentals and Tenant Quality

David Harrison, Managing Director & Group CEO of Charter Hall, said the acquisitions provide exposure to assets leased to tenants operating critical infrastructure across the postal, healthcare and automotive sectors.

"We remain focused on disciplined investment in assets with strong underlying fundamentals that can deliver resilient income and long-term value for our investor customers," Harrison said.

Richard Stacker, Industrial & Logistics CEO of Charter Hall, pointed to South East Queensland's population growth, freight infrastructure investment and demand from essential supply chain occupiers as factors underpinning the transactions.

"The acquisitions are consistent with CPIF's strategy of acquiring high-quality industrial and logistics assets underpinned by leading tenant covenants, long lease profiles and strong underlying land value," Stacker said.

CPIF and IP6 Deepen Queensland Exposure

CPIF holds the Acacia Ridge asset outright while sharing the Darra and Willawong properties with its domestic capital partner through IP6. The IP6 partnership now holds three assets with a combined value exceeding $650 million following the two Queensland additions.

The three Brisbane acquisitions span tenants in the postal, automotive logistics and healthcare distribution sectors — each operating assets that function as essential supply chain infrastructure.

Sources

Charter Hall – Charter Hall expands Queensland industrial portfolio with $192.4 million of acquisitions (Aug. 31, 2026)