Woolworths Group Ltd (ASX: WOW) and Charter Hall Core Logistic Partnerships (CLP) have announced a partnership to develop a $100 million-plus major produce facility in Laverton, according to The Australian newspaper today. Charter Hall CLP invests in institutional-grade industrial and logistics centres.
Charter Hall already has the Drystone Estate in Laverton with facilities for Target, Reject Shop, Couriers Please, Rand and Laverton Cold Storage. The Woolworths facility will add to the already high quality clients in its CLP portfolio.
The Charter Hall Group (ASX: CHC) also has two listed vehicles, which it manages as well as the unlisted property funds, called Charter Hall Retail REIT (ASX: CQR) and Charter Hall LONG REIT (ASX: CLR). The two REITS have recently been divesting properties to enhance the quality of their property portfolios.
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Motley Fool contributor Rosemary Steinfort has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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