Allens advises Charter Hall on Elizabeth Street acquisition

Allens has advised Charter Hall Group on the acquisition of a commercial office building at 231 Elizabeth Street, Sydney.

Acquired through Charter Hall's $3.85 billion wholesale Prime Office Fund (CPOF), the property is currently 100 per cent leased to Telstra.

Allens advised on all aspects of the acquisition, and used its award-winning Real Estate Due Diligence (REDDA) app to create efficiencies for Charter Hall in document review.

The 15-storey A-grade commercial office building includes a total net lettable area of approximately 22,275 square metres and more than 155 square metres of street frontages on the corner of Elizabeth, Bathurst and Castlereagh Streets.

'We are pleased to have worked with longstanding client Charter Hall on this exciting addition to its portfolio of high quality assets,' said lead Partner on the deal, Alexandra Peace.

'This acquisition bolsters Charter Hall's status as one of the largest managers of core CBD office properties in Australia, and is set to sustain very strong returns for CPOF.

'We look forward to continuing our work with Charter Hall as it advances from strength to strength,' Alexandra said.

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