Charter Hall sells Adelaide office
Charter Hall has quietly sold an A-grade Adelaide CBD office after an unsuccessful public marketing campaign early last year.
The fully occupied 13 level office on 1423 square metres at 121 King William Street is trading to Theo Samaris, managing director of Kyren Group.
The price – $84.25 million – reflects a c7.3 per cent yield.
It also demonstrates a modest profit on the $82.25m Charter Hall paid Blackstone in 2019.
Cushman & Wakefield’s Guy Bennett and Jed Harley were the agents (story continues below).
It is the third A-grade Adelaide office the agency has sold off-market since May, they said.
The incoming owner won’t be liable for stamp duty – a state government initiative phased in between 2016-2018 to encourage investment.
Also today we are reporting Charter Hall secured Pepsico to an office/warehouse at Edinburgh, in the city’s north.
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