The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FIRST RELEASE TICKETS ON SALE FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FIRST TICKETS ON SALE FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
SEE DETAILSDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
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
print
Print
OfficeStaff WriterMon 11 Apr 16

Charter Hall Fund Acquires 50% Of Newstead Office Tower

b

The unlisted Charter Hall Direct Office Fund has acquired a 50% interest in the landmark Bank of Queensland building at Newstead in Brisbane for $93 million.

The acquisition of the interest in 100 Skyring Tce pushes the value of DOF’s property portfolio to about $815 million.

The 12-level building was completed in 2014.  It is fully occupied, with Bank of Queensland as the major tenant, and has a weighted average lease expiry of 10.4 years.

Charter Hall Direct's Nick Kelly said the acquisition would be a further positive for the already top performing fund.

The current forecast distribution return for DOF is 6.6 per cent pa for the period to 30 June 2017.

“This is the ninth property in the DOF portfolio, all of which are focused on long leased investment-grade commercial office buildings in strong markets,” Mr Kelly said.

“100 Skyring Terrace is located in Newstead on the fringe of the Brisbane CBD in what is known as the ‘Gasworks’ precinct, a flourishing business and lifestyle community only 1.7km from the Brisbane CBD.

“Significant surrounding developments include a number of modern office complexes such as 757 Ann St, K1 St Pauls Tce & the HQ North and South Towers, while nearby is the new Aurizon headquarters to be constructed at 900 Ann St, Fortitude Valley, which DOF also purchased an interest in last year,” Mr Kelly said.

OfficeAustraliaReal EstateDeal
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Bankstown cbd in Sydney NSW EDM
Exclusive

Breaking Delivery Crisis Chokehold on NSW’s Biggest Housing Market

Vanessa Croll
7 Min
Healthscope Hospital EDM
Exclusive

‘Once-in-a-Decade’ Opportunities Rise in Wake of Healthscope Collapse

Clare Burnett
7 Min
Exclusive

Parking Upsize Threatens Fatal Blow to Project Feasibility

Phil Bartsch
6 Min
One New Zealand Stadium BESIX Watpac
Exclusive

Rising to a Challenge: How BESIX Watpac Topped Australia’s Builders

Clare Burnett
7 Min
Exclusive

Rewards Outstrip Risk in SE Queensland Off-The-Plan Buys

Taryn Paris
7 Min
View All >
Sydney Fish Market Blackwattle EDM
Planning

Sydney Fish Market Rezoning Clears Way for 320 Homes

Clare Burnett
Aerial photo of St Mary's Intermodal Terminal in Western Sydney now sold by Pacific National to PGIM and Cadence.
Industrial

Cadence, PGIM Team Up for $145m Freight Rail Acquisition

Marisa Wikramanayake
Bankstown cbd in Sydney NSW EDM
Exclusive

Breaking Delivery Crisis Chokehold on NSW’s Biggest Housing Market

Vanessa Croll
Buyers are ready, the homes are not: Fixing the Western Sydney housing crisis is a sum of its parts, a Sydney summit has…
LATEST
Sydney Fish Market Blackwattle EDM
Planning

Sydney Fish Market Rezoning Clears Way for 320 Homes

Clare Burnett
2 Min
Aerial photo of St Mary's Intermodal Terminal in Western Sydney now sold by Pacific National to PGIM and Cadence.
Industrial

Cadence, PGIM Team Up for $145m Freight Rail Acquisition

Marisa Wikramanayake
2 Min
Bankstown cbd in Sydney NSW EDM
Exclusive

Breaking Delivery Crisis Chokehold on NSW’s Biggest Housing Market

Vanessa Croll
7 Min
Finance

Fast Funds, Real Help—Woodbridge Capital Delivers Both

Partner Content
5 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/charter-hall-newstead-office-tower