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Charter Hall to fetch up to A$140M from Perth, Australia, office sale

Real estate developer Charter Hall Group is placing its WorkZone West office tower in the central business district of Perth, Australia, up for sale at an estimated price tag of up to A$140 million, The Australian reported.

The grade A building at 202 Pier St. was constructed in 2013 to offer a gross lettable area of 15,602 square meters and is owned by the Charter Hall Direct WorkZone Trust fund. The world's largest contract miner, CIMIC Group, is occupying the building, with about eight years remaining on its lease.

The tower forms part of Charter Hall's two-building complex, with the second WorkZone East building having been divested to CorVal Partners for roughly A$68.3 million in February 2017, the publication added.