National 

Macquarie to Sell Majority of Management Business to Charter Hall

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MACQUARIE Group Limited will sell the majority of its Australian real estate business to the Sydney-based Charter Hall.

Macaquarie will sell the management of two listed trusts – Macquarie Office and Macquarie Countrywide – and three unlisted real estate funds including the Macquarie Direct Property Fund.

Details of the deals are in the Macquarie Group Limited statement below:

 

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National 

Charter Hall Offloads Almost $170 Million in Assets

SYDNEY-based fund manager and developer Charter Hall is continuing its selling spree, offloading $170 million of office and industrial property this week.

The Core Plus Office Fund has made $60.2 million from the sale of the Victorian College of Pharmacy building at Monash University, which sold to an overseas investment group.

Other sales including Bunnings stores and a Harvey Norman, are detailed in the Charter Hall announcement below:

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Victoria 

Charter Hall Sells Interest in Abbotsford Portfolio For $18.3 Million

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CHARTER HALL has sold its half share interest in a portfolio of ten inner-city investment properties, with redevelopment potential.
 
Charter Hall will sell its share in the “Fosters Abbotsford” portfolio to its consortium partner for the investment, the Wyllie Group. The $18.3 million sale price reflects a yield of about 8.15 per cent for Wyllie, and a 9 per cent discount to the Charter Hall December 2008 independent book value.

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National 

Charter Hall Confirms Purchase of Channel 9 Site in Willoughby & Richmond, Apartments Planned

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Charter Hall, one of Australia’s leading property fund managers and property developers has been awarded the exclusive right to negotiate the purchase of the Nine Network’s headquarters in both Sydney and Melbourne following a tender process.

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Western Australia 

Leighton Holdings May Anchor 28,000 Sqm Perth CBD Office Building

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PROPERTY fund manager Charter Hall Group is reported to have snared construction giant Leighton Holdings as a tenant for a major Perth CBD office project.

Leighton is said to be considering a 28,000 square metre campus style office, part of Charter Hall’s new Workzone development at 202 Pier Street, on the Perth CBD’s northern tip (image of a building within the project, right)

The site, held by the Charter Hall Opportunity Fund No 5 (CHOF5), is due for completion in 2013, subject to pre-commitments.

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News Victoria 

ATO renews at Moonee Ponds

CHARTER Hall Office REIT has signed the Australian Tax Office to renew its lease at a prominent Moonee Ponds office tower.

The ATO has occupied the entire 22,000 square metre, seven level building (pictured, right) since it was developed in 1991. The office is near the Puckle Street retail strip, identified by previous governments as a prime activity centre in the north-west.

ATO’s lease was due to expire in 2013. It has now extended that until February 2020.

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Western Australia 

Brookfield Multiplex Pays Aspen $25.3 Million for Perth Development Site

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WESTERN Australian based developer and fund manager Brookfield Multiplex has paid $25.3 million for a commercial development site in the City Square development site.

Brookfield is expected to build a 14-level office on the site, which was also reportedly competed for by the Charter Hall Group.

Aspen Group also reportedly conducted due diligence on the site.

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New South Wales 

Dee Why Grand SC Sells For $68 Million

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DEE Why’s Grand Shopping Centre in Sydney has sold to a private investor for $68 million.

The 10,000 square metre centre, with 30 specialty stores on Sydney’s northern beaches, was offloaded by grocery wholesaler John David and hotel owner the Bayfield family.

Institutions including Charter Hall, Colonial First State, the Future Fund and Lend Lease reportedly threw their hat in the ring for the centre, which sold on a yield of between 7.5 and 8 per cent, based on a fully let income.

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171 Collins Street
Victoria 

CBUS Buys Half Share in 171 Collins Street Development

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171 Collins StreetAS reported in The Age last year, CBUS Property has confirmed it is the mystery buyer of a half share interest in Melbourne’s 171 Collins Street development.

CBUS has paid Sydney-based owner Charter Hall $15.5 million, to take its share in the $280 million office development, which challenged a previous planning precedent, restricting height around the “Collins Street spine”.

It’s understood the developers are targeting the National Australia Bank which has a 40,000 to 60,000 square metre requirement in the market at the moment.

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Victoria 

Foster’s Sells Another Site Near Abbotsford Brewery, Development Wave Underway

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The Foster’s Group has made $8.3 million from the sale of another industrial property in the inner north-eastern suburb of Abbotsford. The property was sold separately from a portfolio of eleven other Abbotsford properties offloaded by the brewer last year to Charter Hall, for around $41 million.

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