Charter Hall invests $66m in Hobart assets

18 December 2018

Charter Hall Direct has acquired two fully leased properties in Hobart for $66 million by two of its Direct Funds.

The Charter Hall Direct PFA Fund, which specialises in investments in government tenanted properties, invested in a cluster of buildings on two adjoining sites for $50.5 million.

This property, an office complex at 22 Elizabeth Street and 103 Macquarie Street, is currently primarily occupied by Tasmanian State Government’s Department of Health and Human Services, the firm said.

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At the same time, the Charter Hall Direct Diversified Consumer Staples Fund acquired a retail warehouse located midway between the Hobart CBD and the MONA arts complex.

This property would offer a total gross lettable area of around 6,453 square meters on a site area of 1.76 hectares, with approximately 80 per cent of this area fully leased to national retail tenants.

The Charter Hall Diversified Consumer Staples Fund has a current income yield of 6.7 per cent per annum while the Charter Hall Direct PFA Fund delivered 6.9 per cent per annum.

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