Charter Hall invests $66m in Hobart assets

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.

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.