Charter Hall Direct Property Fund Secures Parramatta's Largest Leasing Transaction in Three Years

Charter Hall Direct Property Fund (CHDPF) is pleased to announce it has secured the NSW Department of Education and Training as a new tenant at 2 Wentworth Street in Parramatta. This latest signing is the largest leasing transaction Parramatta City has seen for more than three years and signifies continued growth in the area.

The NSW Department of Education and Training, Australia's largest Government department will lease up to 6,500m² of prime office space (60% of the total area), over a 5 year term for an initial effective rental of $360 per square metre. With the latest signing, 2 Wentworth is now 95% leased with only 584m2 of ground floor office space remaining.

Acquired by the manager in November 2003, 2 Wentworth Street, Parramatta comprises 10,825m² of new A-grade office space (refurbished in 2009) and has achieved a 4.5 star NABERS Energy rating.

The highly sought after property is located 150 metres from the Parramatta Rail/Bus Interchange and Westfield Shopping Centre.
Richard Stacker, Chief Executive Officer of Charter Hall Direct Property Management Limited said 'Active asset management was the key to the transaction. By refurbishing and repositioning 2 Wentworth Street, the deal with the NSW Department of Education and Training was able to be negotiated.' He added, 'The high local profile of the building and prominent large floor plates of 1,189m² were also factors in the deal.'

Frank Sassine of Colliers International and Stephen Panagiotopoulos of CB Richard Ellis said the transaction is the most significant lease to be executed in Parramatta since 2007.

Charter Hall Direct Property Fund manages nine office properties across Australia. Maintaining a focus on asset management has ensured continued high occupancy across these properties along with a long portfolio weighted average lease expiry since the Fund's inception.
Through active leasing campaigns and the refurbishment of select assets, the Manager of CHDPF has best positioned the portfolio to benefit from improving real estate market conditions.

ENDS

Charter Hall Direct Property Fund is managed by Charter Hall Direct Property Management Limited, part of the Charter Hall Group. Charter Hall Group is a property funds management and development company, based in Sdney with offices in Melbourne, Brisbane, Perth, Adelaide, Auckland and Chicago. Established in 1991 and listed n the ASX in 2005 as a stapled security under the code CHC, Charter Hall Group combines Charter Hall Limited with Charter Hall Property Trust, which owns and manages over $10 billion in real estate assets. The Charter Hall Group has achieved a solid track record across its activities demonstrating a
19 year history of managing wholesale and retail capital, making it one of Australia's leading property fund managers. Charter Hall's success has been underpinned by a highly skilled and motivated management team with diverse expertise across property sectors and risk-return profiles. Charter Hall is listed in the S&P/ASX 200 A-REIT index.

© Charter Hall Group

This information has been prepared by Charter Hall Direct Property Management Limited ABN 56 073 623 784 (CHDPML) for general information purposes only, without taking into account any potential investors' personal objectives, financial situation or needs. Before investing, you should consider your own objectives, financial situation and needs or you should obtain financial, legal and/or taxation advice. Units in the Charter Hall Direct Property Fund (CHDPF) are issued by CHDPML. Potential investors should consider the PDS when deciding whether to invest. To obtain a copy of the PDS, call us on 1300 652 790 (local call cost). CHDPML does not receive fees in respect of the general financial product advice it may provide, however it will receive fees for operating the Charter Hall Direct Property Fund (CHDPF) which, in accordance with the CHDPF Constitution, are calculated by reference to the value of the assets of CHDPF. Entities within the Charter Hall Group may also receive fees for managing the assets of, and providing resources to CHDPF. For more detail on fees, see the PDS. To contact us, call 1300 652 790
(local call cost).

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