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Charter Hall completes more than $75m in acquisitions in South Australia
Charter Hall Group (Charter Hall) has purchased two high-quality, government-leased industrial assets in South Australia for more than A$100 million ($75 million).
Charter Hall-managed fund DIF4 has acquired a new institutional-grade office and warehouse property in Gepps Cross for A$30.7 million ($22.64 million) at an initial yield of 4.9 percent. Purpose-built for SA Health, the asset is 100 percent occupied by the government organization with a 15-year net lease with fixed reviews, providing stable income growth over the investment horizon.
“We are pleased to be expanding DIF4’s spread to prime, modern industrial real estate, with the addition of a high-quality, purpose-built asset leased to the South Australian government, which is a major tenant customer across our industrial & logistics and office portfolios in metropolitan Adelaide,” said Julian Menegazzo, Charter Hall direct fund manager. “Gepps Cross is a prime industrial area in Adelaide and extre