Charter Hall Group secures development management rights at 1PSQ
LINKEDIN
FACEBOOK
TWITTER
EMAIL
2 mins
Download
Share
By proceeding you confirm that you are a resident of Australia or New Zealand accessing this website from within Australia or New Zealand and you represent, warrant and agree that:
- you are not in the United States or a “U.S. person”, as defined in Regulation S under the U.S. Securities Act of 1933, as amended (“U.S. Person”), nor are you acting for the account or benefit of a U.S. Person;
- you will not make a copy of the documents on this website available to, or distribute a copy of such documents to, or for the account or benefit of, any U.S. Person or any person in any other place in which, or to any other person to whom, it would be unlawful to do so; and
- the state, territory or province and postcode provided by you below for your primary residence in Australia or New Zealand are true and accurate.
Unfortunately, legal restrictions prevent us from allowing you access to this website. If you have any questions, please contact us by e-mail by clicking on the link below.
Charter Hall Group today confirmed that it has acquired the development rights to the 1PSQ project in Parramatta from Leighton Properties. The building is the future home of Western Sydney University’s new Parramatta City Campus, located within Parramatta CBD’s world-class Parramatta Square urban renewal precinct.
This announcement follows the acquisition of the site 12 months ago by two of the Group’s managed funds, Core Plus Office Fund (CPOF) and Direct Office Fund (DOF). At that time, the funds entered into a development agreement with Leighton Properties for the construction of a new office building, 100% pre leased to the Western Sydney University for 15 years.
Charter Hall’s Head of Office Development Services, Andrew Borger said:
“Today’s announcement will ensure that we are in the best position to deliver a world class facility for WSU and its students as well as our investors.
“The depth of our internal development capabilities means that we are able to partner with our clients to deliver high performance workspaces as well as create investment grade properties, adding significant value and enhanced income yield and total returns for our managed funds".
The new A-grade building will comprise approximately 26,500 square metres of commercial office space across 14 floors, with the University committing to the entire building on a 15 year lease, with further options. The building is well located on the corner of Smith and Macquarie Streets within Parramatta City Council’s greater Parramatta Square Masterplan, a strategic three hectare redevelopment in the city’s CBD, and has convenient access to rail, road, bus and ferry transportation.
“Over the past 12 months Charter Hall has completed major office projects at 570 Bourke Street in Melbourne and the new BoQ headquarters in Brisbane’s near city suburb of Newstead. Along with 1PSQ, our current development pipeline includes major office projects at 333 George Street in Sydney, and the recently announced new Aurizon headquarters in Brisbane’s Fortitude Valley,” Mr Borger added.
Construction is currently well advanced with completion expected in late 2016 for the first semester in February 2017.
Related News
Western Sydney International Airport partners with Charter Hall to deliver new Business Precinct
Read more
Charter Hall and Healthy Heads in Trucks & Sheds extend partnership to launch nutrition pilot program for warehouse workers
Read more
Charter Hall has commenced main works construction at its $1.8 billion Chifley South development
Read moreTalk to us
Thanks for your interest in Charter Hall. Fill in your details below and we’ll get back to you as soon as possible.
I am interested in
Enquiry
*Indicates that this field is required.
All personal information submitted will be treated in accordance with our privacy policy.
By registering and/or submitting personal data to Charter Hall, you agree that, where it is permitted by law and in accordance with our Privacy Statement or where you have agreed to receive communications from us, Charter Hall may use this information to notify you of our products and services and seek your feedback on our products and services. Please note you can manually opt out of any communications.
Talk to us
Thanks for your interest in Charter Hall. Fill in your details below and we’ll get back to you as soon as possible.
I am interested in
Enquiry
*Indicates that this field is required.
All personal information submitted will be treated in accordance with our privacy policy.
By registering and/or submitting personal data to Charter Hall, you agree that, where it is permitted by law and in accordance with our Privacy Statement or where you have agreed to receive communications from us, Charter Hall may use this information to notify you of our products and services and seek your feedback on our products and services. Please note you can manually opt out of any communications.
-
© Charter Hall Group, 2024.
- Terms of Use
- Privacy Policy
- Complaints Guide
- Feedback
