Charter Hall Sells Interest in Abbotsford Portfolio For $18.3 Million
In late 2007, the consortium paid $41 million for the portfolio which included offices and car parks around the Yarra River in Abbotsford, north-east of the CBD. The properties are leased to Fosters, but are expected to be vacated over the next seven to ten years, paving the way for residential and office redevelopment, in the traditionally industrial pocket.
Charter Hall is expected to make another $10 million on Wednesday, when Burgess Rawson auctions a Corio shopping centre and office complex, which Charter Hall paid $11.1 million for in 2005.
