Charter Hall acquires Optima Centre and National Archives in $180M deal

17 October 2018

The Charter Hall Long WALE REIT has acquired 100% of the National Archive building in Chester Hill and along with the Direct Property Fund have each acquired 50% of the Optima Centre in Perth in deals totaling $180M. The National Archives building in Chester Hill comprise office and warehouse space over 22,824sqm fully leased to the Commonwealth Government until 2038. The Long WALE REIT paid $54.1M for the asset on a 6.6% yield. The Optima Centre in Perth comprised two fully leased commercial office buildings in Osborne Park, 5Km from the CBD. The two buildings, total 16,116sqm are leased to the West Australian Government and Cannon with a WALE of 11.2 yrs. The $125.2M ($8067/sqm) transaction by Charter Hall was completed on a 7.1% yield. The Optima Centre was jointly developed by ABN Group and Macquarie Real Estate and in 2013 was sold to Blackrock, the current vendor, for $105M. The adjoining 4,800sqm building in Parkland Rd was acquired by Primewest in May 2017 for $5,700/sqm. #ReDataSource #Blackrock #CharterHall #Perth #Commercial