The property fund spared by COVID-19

Ingrid Fuary-WagnerExplainer editor

Aug 7, 2020 – 2.13pm

Email LinkedIn Twitter Facebook

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Key Points

Revenue ($m) 126.7, up 48.0%
Net profit ($m) 122.4, up75.9%
Final distribution (c) 28.3, up 0.1%
Distribution payable on Aug 14

Charter Hall's Long WALE REIT, which owns assets with long leases across retail, office, agri-logistics and industrial property sectors, has seen an uptick in the value of its properties by $96 million and rental growth of 2.6 per cent over the year as COVID-19 takes its toll elsewhere across the commercial property market.

The fund reported no impact as a result of the pandemic to operating earnings for the year ended June 30, which was in line with guidance at 28.3 cents per security, and up from 26.9 cents last financial year.

Ingrid Fuary-Wagner is the AFR's explainer editor, based in Sydney. She previously wrote about property and before that was news editor at Domain.