Queensland Treasury Corporation has sold the near-new Brisbane City Council Bus Network Terminal for $102.5 million. Two Charter Hall funds – Charter Hall Long WALE REIT (CLW) and Charter Hall Education Trust (CQE) – are each paying $51.25 million for a half-share. Completed in 2013, the Eagle Farm terminal occupies a 6.2 hectare site inRead more
Charter Hall is reportedly in negotiations to buy a Melbourne CBD office for nearly $800 million. The Sydney-based fund manager is speculated to be acquiring 242 Exhibition Street off-market from Investa Commercial Property Fund and Oxford Properties, which each own a half share. Completed in 1992, the 43-level building A-grade building, containing 65,931 square metresRead more
EXCLUSIVE Charter Hall’s Direct Industrial Fund 4 has spent $29.5 million on a high-profile logistics centre in Melbourne’s west. The Altona site at 28-30 Marshall Court is fully leased to Rays Outdoors Limited which pays annual rent of $2.13 million, with fixed annual rent reviews of 2.5 per cent, on a lease expiring in 5.6Read more
Charter Hall has snared two high-end accessory retailers as tenants for its Raine Square development, in the Perth CBD. Tiffany & Co and Kailis Jewellery have signed long-term leases within the development on the corner of Murray, Queen, Wellington and William streets, with direct access to the Perth underground train station. Also set to includeRead more
Charter Hall is spending $192 million on a modern office in Melbourne’s Docklands. The 10-storey building at 737 Bourke Street was listed last October by Malaysian-backed pension fund Kumpulan Wang Persaraan (Diperbadankan), also known as KWAP and Retirement Fund Incorporated, which paid the Grollo family’s Equiset $113 million for it, in 2010. Based on theRead more
Charter Hall Retail REIT is paying $142 million for a major and high-profile shopping centre in Sydney’s south. Rockdale Plaza on the Princes Highway spreads across a 4.78 hectare site and includes 907 car parks and a 21,334 sqm centre anchored by Big W and supermarkets Aldi and Woolworths. It also includes 46 specialty stores.Read more
Charter Hall is paying $75.5 million for 13 childcare centres on Australia’s east coast. Two of the centres are completed. Six are subject to a “fund through” arrangement, whereby Charter Hall is buying the land, and paying the balance required to construct the investments, which it will own. The centres are fully leased to occupiersRead more
Charter Hall Retail REIT is paying $74 million for the Campbellfield Plaza shopping centre in Melbourne’s north. The 17,900 square metre complex on a 5.9 hectare block at the busy corner of Hume Highway and Mahoneys Road was listed by ISPT in September with price hopes of $80-million plus. Based on the asset’s annual approximateRead more
The Australian Financial Complaints Authority (AFCA) – which formed six weeks ago following the merge of the former Financial Ombudsman Services, Superannuation Complaints Tribunal and Credit Investments Ombudsman – has signed a major office rental agreement in the Melbourne CBD. AFCA has agreed to a 12-year lease deal for approximately 7600 square metres, being levelsRead more
ASX-listed Charter Hall has paid $12.5 million for the Coburg Drive-in cinema complex in Melbourne’s inner north. The 8.1 hectare site at 155 Newlands Road, Coburg North, was offered by Village Roadshow with a 10-year leaseback. Based on the starting annual rent, Charter Hall is acquiring the property on a 4.8 per cent yield. TheRead more
Charter Hall Retail REIT has sold the Coomera Square shopping centre in Queensland and a freestanding Woolworths-leased supermarket in New South Wales, for a total of $76.1 million. The Sydney-based fund manager said the assets traded at a small discount to their December 2017 book values. “The divestments are consistent with the REIT’s strategy toRead more
Acquisitive property giant Charter Hall has paid $118.5 million for two government-leased industrial investments on Australia’s east coast. The detector dog training facilities, both occupied by Australian Border Force and Australia Federal Police, hit the market in August. The largest facility by area, in Bulla, about 29 kilometres north-west of Melbourne, operates as the headquartersRead more
Charter Hall has expanded its footprint at the south-west corner of Collins and King streets, in the Melbourne CBD, following an off-market deal. Charter Hall’s Prime Office Fund is paying $140 million for 555 Collins Street, a rundown 24-storey former government office built in the 1960s and for years known as Enterprise House (pictured, top).Read more
Charter Hall has paid $55 million for a commercial site occupied by the National Archives of Australia, in Sydney’s Villawood. The holding at 120 Miller, 25 kilometres west of the CBD, traded off-market. The vendor, a private investor, paid $17.5 million for the office-warehouse (pictured, top) 10 years ago. At the time, it had aRead more
Charter Hall is paying $22 million for a hotel and retail asset on 1.1 hectares of land in Waterford West, about 27 kilometres south-east of the Brisbane CBD. The holding at 962 Kingston Road, on the north-east corner of Loganlea Road, includes the Club Hotel Waterford – ranked as one of Queensland’s top 50 gamingRead more
SYDNEY based fund manager Charter Hall has paid $32.5 million for the Lansell Plaza near Bendigo in regional Victoria. The purchase, from the Centro Group is expected to settle at the end of January. According to the AFR which reported the deal, the shopping centre (black and white image from the National Gallery of Victoria)Read more
SYDNEY-based fund manager Charter Hall can expect some $25 million from the sale of a Melbourne CBD office it bought for $32 million in September 2007 – just weeks before the last commercial property market peak.
A spokeswoman said the Charter Hall Core Office Fund will use moneys from the sale to invest in larger, prime opportunities.
The asset on offer at 150 Queen Street (pictured, right), on the corner of Bourke Street, was developed in the 1960s and known for years as the Prudential Building.Read more
CHARTER Hall today announced its Diversified Property Fund (DPF) has contracted to sell Spinifex House at 46 – 50 Kings Park Road (pictured, right), West Perth to a private syndicator for $28.25 million, or $6900 per square metre.
The sale price reflects a premium price of 6.3 per cent to the assets June 30, 2011 value.
Charter Hall has also sold a smaller office building at 22 – 28 Compark Circuit, in the south-east Melbourne suburb of Mulgrave. This asset sold for $6.4 million to an owner occupier.Read more
THE Brisbane Square office building has sold for $300 million to a consortium including Charter Hall Group’s wholesale Core Plus Office Fund, and Telstra Super.
The duo purchased the asset from WA super group Westscheme.
Measuring 57,300 square metres, the A-grade office sale is due to settle by mid November.
A Charter Hall statement is copied below:Read more
CHARTER Hall is set to start building a $75 million housing estate on part of Nylex’s former industrial products manufacturing and distribution complex in Mentone, a site which it has snapped up in stages over the past four years.
In a trend that is seeing interstate builders increasingly look to Melbourne’s outer suburbs for opportunity, the Sydney-based developer plans to build 119 townhouses on the 3.3 hectare site at the south-west corner of Warrigal Road and Oak Avenue.
Construction of the project, to be known as Aquilo, is set to start within weeks. Marketing of the first townhouses, priced from just under half a million each, commences today.Read more