Charter Hall reaps $48m on Melbourne office

Group's managed retail fund sells Home head office sold to a private investor.

Charter Hall Group Ltd has sold the Home head office in Nunawading, Melbourne for $48 million to a private investor.

It's managed fund, Charter Hall Retail (REIT), had a half stake in the property and will use the funds to repay $27.5 million in debt, while $10 million will be reinvested into shopping centres.

REIT fund manager Scott Dundas said the sale was "in line with our strategy of recycling assets to enhance the quality of the REIT‟s portfolio".

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