Charter Hall wholesale funds form joint venture with GIC to own the iconic Chifley Towerright-arrow
read-time2 mins
by Charter Hall Announcements

To access this part of the website, please select your country of residence from the following list.

The country of my primary residence is:

Due to legal restrictions, access to this website is only available to residents of Australia and New Zealand from within Australia or New Zealand. In order to access this website, you must provide the State, Territory or Province and postcode for your primary residential address within Australia or New Zealand.

The State or Territory of my primary residence in Australia or the Province of my primary residence in New Zealand is:

Due to legal restrictions, access to this website is only available to residents of Australia and New Zealand from within Australia or New Zealand. In order to access this website, you must provide the State, Territory or Province and postcode for your primary residential address within Australia or New Zealand.

The State or Territory of my primary residence in Australia or the Province of my primary residence in New Zealand is:

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.

I agree to the above terms Yes or No.

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.

Contact Us

Charter Hall Group (ASX:CHC) (Charter Hall or the Group) today announced that two of its managed wholesale funds have combined to partner with GIC, Singapore’s sovereign wealth fund, to acquire the leasehold of Chifley Tower, 2 Chifley Square, Sydney. Charter Hall will assume the Asset and Property management of 100% of the Tower increasing the Groups funds under management (FUM) by approximately $1.8 billion to over $33 billion.

Charter Hall’s Prime Office Fund (CPOF) and DVP wholesale funds/partnerships have formed a joint venture that will own the Chifley Tower in co-ownership with GIC. Charter Hall Group Managing Director and CEO, David Harrison commented:

“This off market transaction reflects the deep relationships we have across our platform, extends the Office platform FUM to over $15 billion, whilst also extending a well-established 15-year relationship with GIC. We have used our diversified funds platform to bring two of our wholesale funds/partnerships together to form a joint venture with GIC to own one of Australia’s pre-eminent premium grade office towers situated on arguably the best prime CBD site in Sydney.”

Charter Hall Group has a weighted average stake across CPOF and DVP of 8%.

The property Chifley Tower is an iconic Premium Grade office tower of 68,867sqm of lettable area, with over 5,000sqm of prime Sydney CBD retail across lower ground, upper ground and first floor, significant parking for 377 bays, first class end of trip facilities and 42 levels of Premium Grade office accommodation situated on the second largest site area in the Sydney CBD of 6,438sqm.

The property is secured by a 4.3-year WALE, weighted average rent reviews of 3.8% and is 98.3% occupied and leased to multiple blue-chip tenants including UBS, Investec, Sumitomo Mitsui Banking Corp and Morgan Stanley Australia. The property has highly efficient column free floor plates ranging from 1,300 – 1,620 sqm together with some of Sydney’s most panoramic views of Sydney Harbour and the botanical gardens.

View media release