Charter Hall And GIC Enter Into Joint Venture To Acquire Sydney Property
Charter Hall has extended its partnership relationship with GIC Real Estate, the Singapore sovereign wealth fund, via creation of a partnership that has acquired the Jessie Street Centre in Parramatta CBD, Sydney.
The Jessie Street Centre, an A-grade office building with supporting retail offers and a net lettable area of 53,900 sqm. The property is 99.9% occupied with a WALE of 3.9 years and has a 5.5 star NABERS Energy Rating. The property benefits from a strong underlying tenant covenant base, being predominantly leased to the Australian Taxation Office, AMP Services Limited and various NSW Government Service tenancies.