This article is from the Australian Property Journal archive
CHARTER Hall has received the green light for its $200 million 140 Lonsdale Street tower in Melbourne’s CBD, close to two of its existing projects in the Wesley Place area.
The newly approved 23-storey, A-grade building of 16,500 sqm is owned by the Charter Hall Office Trust, which also owns 150 Lonsdale Street, and the $3.85 billion Charter Hall Prime Office Fund owns the $600 million 130 Lonsdale Street project.
Charter Hall achieved the pre-commitment threshold required to proceed with its 58,000 sqm, 35-storey office and retail 130 Lonsdale tower in November, having secured the signatures of Cbus, Telstra Super and investment firm Vanguard across more than 50% of the space.
Completion of both the 150 and 130 Lonsdale Street towers is expected by the middle of 2020.
In the days leading up to the end of 2017, the Charter Hall Prime Office Fund acquired the 15-storey, A-grade commercial building Telstra House at 231 Elizabeth Street in the Sydney CBD for around $340 million from Chinese group Bright Ruby, which had paid $201 million for the asset just four years earlier.
Australian Property Journal
