Charter Hall buys Telstra tower for $830m

Charter Hall Group has confirmed the purchase of Telstra’s global HQ tower in the Melbourne CBD for $830 million.

The ASX-listed property investor said the off-market transaction for the 47-storey Exhibition Street tower – first flagged in May – would settle during the first half of FY20.

The property will be owned by a wholesale partnership comprising the $5.4 billion Charter Hall Prime Office Fund, the Public Sector Pension Investment Board and Charter Hall Group.

Telstra has occupied the building since 1992 and its current lease runs until FY2032.


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