Charter Hall to acquire a 50% stake inElizabeth Street store from Woolworths and David Jones for $255m.

Charter Hall, a company that invests in and develops real estate, agreed to acquire a 50% stake in Elizabeth Street store from Woolworths, a supermarket chain, and David Jones, a premium retailer, for $255m. “This property offers a unique opportunity to secure an iconic property on a large freehold site in the centre of the Sydney CBD with a NNN, 20-year lease, which increases CLW’s proportion of NNN properties by net income to 55%," Avi Anger, Charter Hall Manager.