Charter Hall Group Ltd has acquired a landmark site in Pier Street Northbridge for $31 million, with plans to develop a 25,000 square metre campus-style office park.
Charter Hall Group Ltd has acquired a landmark site in Pier Street Northbridge for $31 million, with plans to develop a 25,000 square metre campus-style office park.
The 10,129sqm site at 186 - 202 Pier and Nash Streets is located 50 metres from the McIver train station and comprises a substantial warehouse building.
The strategic site was acquired through John Corbett of Knight Frank from Chinoiserie Investments Pty Ltd.
Development director and Charter Hall Opportunity Fund No.5 fund manager Michael Winnem said the new office park would have large efficient floor plates and include ancillary retail and substantial car parking.
"This type of product will appeal to major corporate and government tenants who are focused on efficiency, productivity, value and environmentally rated accommodation," he said.
The acquisition is the third for CHOF5 and follows two recent acquisitions in New Zealand.
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