Charter Hall deepens ALDI partnership with new 20-year pre-lease at Tarneit in Victoria and expansion of existing lease at Brendale in Queensland

Charter Hall Group (Charter Hall or the Group) is pleased to announce that it has deepened its long-standing national cross-sector partnership with ALDI, supporting ALDI’s growth of its national operations and supply chain efficiency, with a new large-scale warehouse and office facility in Tarneit, Victoria, and an expansion of its existing facility in Brendale, Queensland.

At Tarneit Logistics Hub, owned by Charter Hall’s flagship $14 billion industrial & logistics fund CPIF, ALDI has committed to a 20-year pre-lease agreement and is developing a new large scale 102,000 square metre (sqm) ambient and temperature-controlled warehouse and office facility.

The facility will also be enabled with automation technology throughout, underpinning the strategic location and exceptional value that Tarneit provides ALDI in expanding its operations in the region. Practical completion of the base building is expected by the end of this year, with automation commissioning to occur thereafter.

ALDI has also extended its existing tenancy at the Brendale Distribution Facility in Queensland, also owned by CPIF, for an additional 8-year lease with a 13,500sqm ambient warehouse and office space extension and has also signed an 8-year pre-lease for an additional 9,000sqm freezer and to expand its total footprint to 22,500sqm. Practical completion for the new facility is expected in July this year.

With these leases, Charter Hall’s Industrial & Logistics partnership with ALDI now spans 378,000sqm across nine sites, while Group-wide ALDI leases 407,000sqm across 27 sites nationally.

Charter Hall Industrial & Logistics CEO Richard Stacker commented, “As demand for industrial & logistics space continues to outpace supply, it’s increasingly difficult for businesses like ALDI to be able to secure large-scale sites that allow for automation while also having proximity to major infrastructure and metro areas, enabling effective cost management and supply chain efficiency.

“The expansion of our partnership with ALDI reflects the strength of our relationship and the value that our scale and national footprint provides our tenant customers, particularly those that are heavily investing in strategic growth across the country. Importantly, by curating a portfolio of high-quality, well-located, best-in-class assets across the country, we’ve demonstrated our ability to attract, retain and partner with our valued tenant customers as their businesses grow, while also delivering sustainable returns for our CPIF investors.”