Charter Hall Completes Major Warehouse Expansion and Refurbishment in Chullora

26/08/2010 - PDF Version Available

Charter Hall today announced the completion of a major warehouse facility expansion and refurbishment at 56 Anzac Street Chullora, marked by a function attended by over 50 industrial leasing agents and members of the Charter Hall team. 

Located in one of Sydney's most established and land constrained industrial areas, 56 Anzac Street, Chullora offers over 21,000 square metres of refurbished industrial space with 24 hour, seven day a week access.  The refurbished building comprises 19,502 square metres of high clearance warehousing; B-Double approved access; expanded and reconfigured hard-stand and truck marshalling areas; and expansive container set down and storage areas. The facility is part of an estate anchored by international corporation, Volvo owned by Charter Hall's wholesale fund, Core Plus Industrial Fund (CPIF). 

Speaking at the event, Paul Ford, Fund Manager for Charter Hall's CPIF said the refurbishment of 56 Anzac Street was undertaken in order to take advantage of a recovering market and cyclical low vacancy rates. 

'Over the past year, with the market showing early signs of recovery, we have seen an increase in demand for large, highly efficient, generic warehouse accommodation in Sydney's central west with very little corresponding supply.  We understand the importance for businesses to be close to Sydney CBD, Port Botany, Enfield Intermodal, Sydney Airport and major motorways and to be housed in a flexible building that can accommodate their needs. 

'The newly refurbished 56 Anzac Street facility has been expanded and refurbished to meet this growing tenant demand.  It provides a quality, large scale and efficient solution in a highly convenient location,' Mr Ford said. 

Charter Hall has appointed Jones Lang LaSalle and CB Richard Ellis to coordinate the leasing of the building, which has already received strong tenant interest. 

'56 Anzac Street is one of CPIF's core logistic holdings within the national portfolio which boasts facilities leased to Coles, Toll, Shenker, Smorgon, Wesfarmers and Volkswagen,' Mr Ford added. 

The Fund's portfolio comprises 15 A-grade assets in the core markets of Sydney, Melbourne, Brisbane and Perth valued in total at over $400 million.  The portfolio has a ten year average lease term supported by national, international or government tenants.  CPIF is midway through its second capital raising, targeting up to $150 million to provide further acquisition capacity and to leverage from increasing investor and tenant demand.


For further information please contact:

Rachel Mornington-West
Senior Communications Manager
02 8908 4093
rachel.mornington-west@charterhall.com.au


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