Charter Hall fund acquires $82m life sciences campus

Charter Hall’s leading A$7 billion ($5.4 billion) wholesale industrial and logistics fund, CPIF, has announced the acquisition of a A$106 million ($82 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 16.8-hectare (41-acre) property with 33,878 square meters (364,660 square feet) 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 percent site coverage offers multiple strategic options to create long-term, secure income streams and add incremental value through redevelopment.

“We are delighted to se