News and Announcements
Charter Hall Acquires 50% Interest in Coles Headquarters Melbourne
- Published September 21, 2016 5:35PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
21st September 2016, ASX Announcement
Charter Hall Group (ASX:CHC) (Charter Hall or the Group) announces it has entered into an agreement to acquire a 50% tenants-in-common interest in the Melbourne office headquarters of Wesfarmers’ subsidary Coles, a long term occupant of the building which has recently signed a new 15 year lease expiring in 2030.
The purchase was negotiated directly off market from Investa Office Fund (OF), for a total purchase price of $140.5 million. The remaining 50% interest in the property is owned by a private group.
The property, known as the Coles Headquarters, is located at 800 Toorak Road, Hawthorn East, and is 100% leased to the Coles Group Limited for an initial 15 year lease term expiring 17 March 2030, plus options.
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