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Report: Charter Hall mulls buying Allianz's A$300M stake in Sydney building

Diversified property developer Charter Hall Group could take full ownership of the 24-level office building at 2 Market St. in Sydney if its unlisted A$2.7 billion office fund exercises its co-owner privilege, The Australian Financial Review reported.

Allianz SE plans to sell its roughly A$300 million half stake in Allianz Centre, with JLL as the broker. As co-owner, Charter Hall Office Trust could either exercise or refuse an option to buy its German partner's stake before it hits the market, the paper noted.

The 24-level grade A property features more than 40,000 square meters of office space across two interconnected buildings with a central atrium. It is fully leased to tenants including Allianz, Caltex and Commonwealth Bank of Australia, according to Charter Hall.

A spokesperson for Charter Hall said the group declined "to comment on market speculation," according to the March 14 report.