The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
2
print
Print
OtherAna NarvaezWed 24 Jul 19

Charter Hall Nabs AusSuper to Round Out 130 Lonsdale Street

deb3efe6-eb5c-4fc1-ac2a-fd37c89ed641

Charter Hall has nabbed Australia’s largest super fund at its $1.2 billion Wesley Place precinct, finalising its leases at the 130 Lonsdale Street tower 10 months ahead of completion.

AustralianSuper has struck a 12-year lease for 16,200sq m across the upper levels of the building, joining fellow super funds Telstra Super and Cbus in the 35-storey tower.

The Uniting Church, investment services firm Vanguard and the newly-formed Australian Financial Complaints Authority round out the tenancy mix.

AustralianSuper, which is currently based nearby at ISPT’s 50 Lonsdale Street, will shift to the Wesley Place precinct in the second half of 2020.

Charter Hall’s $5.6 billion prime office fund now has more than 50,000sq m across its total office space occupied by Australian superannuation funds. The fund manager secured a sought after 17,200sq m, 15-year lease from QSuper at its Brisbane Square Tower last year.

Charter Hall has been an active player in Melbourne’s CBD office market, paying $830 million for Telstra’s headquarters this month after bidding on the $1.3 billion 80 Collins Street precinct earlier in the year.

More than half of Charter Hall’s commercial pipeline is now in Melbourne’s strong performing CBD.

Related: Charter Hall Upgrades Forecast with 24pc Earnings Boost

▲ The $700 million 130 Lonsdale Street tower (pictured earlier this year) is well under way and slated for completion in April 2020.


Charter Hall chief executive David Harrison said the group was attracted to Melbourne’s CBD by strong tenant demand and a sub-4 per cent vacancy rate.

“The Melbourne CBD recorded 153,650sq m of net demand in the year to 31 March 2019 – double that of Sydney CBD (71,800sq m) — and was the strongest of any Australian CBD office market,” Harrison said.

The Charter Hall prime office fund has also “accelerated” plans for the construction of its $1.5 billion twin-tower office project at 555 Collins Street to meet a key spike in the expiry of commercial leases in 2022.

The fund manager commenced demolition on the 80,000sq m office towers in May after lodging a development application in April.

Construction of the 60,000sq m 130 Lonsdale Street skyscraper is slated for completion in April 2020. The Cox Architecture-designed skyscraper is targeting platinum WELL certification, 6 Star Green Star and 5 Star Nabers ratings.

JLL’s Stuart Colquhoun and Corporate Real Estate Advisory’s Peter Birrell brokered the deal.

The Wesley Place precinct commenced construction in October 2017 and will bring to market 110,500sq m of office space and 3,500sq m of retail when complete.

OtherRetailOfficeAustraliaMelbourneConstructionReal EstateConstructionSector
AUTHOR
Ana Narvaez
The Urban Developer - Editorial Director
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

Accor Deputy Delivers Verdict on Brisbane Games Hotel Shortfall

Phil Bartsch
6 Min
Qld Budget 2025-26 Brisbane City
Exclusive

Billions Promised, Now Deliver: Industry’s Qld Budget Verdict

Vanessa Croll
6 Min
Medium Density housing in NSW
Exclusive

NSW Budget ‘Groundbreaking’ $1bn Guarantee to Unlock Housing

Leon Della Bosca
7 Min
Exclusive

Azure’s Trent Keirnan on Playing the Long Game

Taryn Paris
5 Min
Exclusive

Private Credit Surge, Skittish Buyers Force Banks to Loosen Presale Rules

Taryn Paris
5 Min
View All >
Not-for-profit BaptistCare is about to embark on one of its biggest projects to date, a 6.4ha development in Sydney’s north west with a capital investment value exceeding $2 billion.
Placemaking

BaptistCare Plans $2bn Precinct at Macquarie Park

Renee McKeown
Builder Hansen Yuncken has completed construction of ISPT and HESTA's latest addition to the St Vincent's Hospital Melbourne Precinct.
Life Sciences

ISPT, HESTA $140m Fitzroy Life Science Tower Tops Out

Marisa Wikramanayake
Ledlin Developments Somerville Business Park
Industrial

Ledlin Plots $13m Somerville Premium Business Park

Leon Della Bosca
The developer returns to his roots, filing plans for a first-of-its-kind premium business park in his Mornington Peninsu…
LATEST
Not-for-profit BaptistCare is about to embark on one of its biggest projects to date, a 6.4ha development in Sydney’s north west with a capital investment value exceeding $2 billion.
Placemaking

BaptistCare Plans $2bn Precinct at Macquarie Park

Renee McKeown
2 Min
Builder Hansen Yuncken has completed construction of ISPT and HESTA's latest addition to the St Vincent's Hospital Melbourne Precinct.
Life Sciences

ISPT, HESTA $140m Fitzroy Life Science Tower Tops Out

Marisa Wikramanayake
2 Min
Ledlin Developments Somerville Business Park
Industrial

Ledlin Plots $13m Somerville Premium Business Park

Leon Della Bosca
3 Min
TimePlace Manly shoptop
Construction

Time & Place Plans Second Manly Project as First Begins

Vanessa Croll
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/charter-hall-australian-super-130-lonsdale-street