Charter Hall mulls $300m stake in Allianz Centre

Charter Hall is looking to taking full control of the Allianz Centre in Market Street, Sydney, by obtaining the half-stake held by its co-owner at $300 million. The fund manager, led by David Harrison, is thought to be reviewing the chance to secure a large piece of prime commercial property before it hits the open market.

Allianz plans to put its own half-stake to the market but by virtue of its co-owner’s pre-emptive rights, it must first offer the ownership to Charter Hall.

The Market Street building in the western corridor of the CBD is an A-grade tower, fully occupied by its major tenants, Allianz, Caltex and Commonwealth Bank of Australia. The average lease expiry is 4.4 years.

Image source: Jessica Hromas

Article source: http://www.afr.com/real-estate/charter-hall-mulls-300m-stake-in-allianz-centre-20180313-h0xevx


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