Total
0
Shares
Source: Commercial Real Estate
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Property investment company Charter Hall Group (CHC) has a new anchor tenant for its new $750 million dollar building in Melbourne
  • Currently, it is unknown who the new tenants are, but the company has hinted its a leading global technology company
  • The new building is located on 555 Collins Street and will consist of two towers of office space
  • Construction for tower one is already underway, after the demolition of the old building completed
  • On market close, Charter Hall is down 0.42 per cent and is trading for $14.20 per share

Charter Hall Group (CHC) has a new anchor tenant for its new $750 million dollar building in Melbourne.

CHC has not given any names as to who is moving in, but it has hinted its a leading global technology company.

The new customers were secured by CHC’s flagship office fund, Charter Hall Prime Office Fund (CPOF).

The new building is located on 555 Collins Street and will consist of two towers of office space.

Construction on the first building will now begin as the demolishing of the old building has been completed.

“This major pre-commitment provides the momentum for CPOF to proceed with construction and advance further leasing interest during the development phase,” Managing Director and Group CEO David Harrison said.

“555 Collins Street is a visionary commercial precinct that will create a new benchmark for office development in Australia. We expect a flight to high-quality modern office buildings as tenant customers refine their workplace to meet the changing appetite for modern, technology and health/hygiene driven accommodation requirements,” he added.

Victoria’s Treasurer, Tim Pallas, believes projects like Collins Street would drive economic activity in the inner-city.

“This is exactly what Melbourne’s CBD – and our economy – needs right now: a project that will bring to life this end of town and create hundreds of construction jobs,” he said.

“Victoria was the strongest economy in the country before the pandemic and with investments like these in the pipeline, we’re confident we’ll come back even better and stronger,” he added.

On market close, Charter Hall is down 0.42 per cent and is trading for $14.20 per share.

CHC by the numbers
More From The Market Herald
The Agency Group Australia (ASX:AU1) - Managing Director, Paul Niardone

" The Agency Group Australia (ASX:AU1) awarded over $212,000 in court win against MCL 105

The Agency Group Australia (AU1), after being successful in the Federal Court in its defence in the case against MCL 105, has received

" Linkcity launches first Australian development project, a hyrbid timber structure

The Hybrid – South Sydney is Linkcity’s first development project in Australia and promises to usher in a new level of sustainability.

" Baulkham Hills child care site up for grabs amid investor interest

Child care institution First Grammar Baulkham Hills has come onto the market, as demographics and rising utilisation rates continue to pique investor interest

" DiMauro Group swoops in as AMP Capital exits NZ shopping mall

DiMauro Group, based in Adelaide, has added to its New Zealand retail portfolio with the NZ$88.8 million (A$85.3 million) purchase of The Palms,...