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CHARTER HALL GROUP — Capital/Financing Update 2008
Feb 18, 2008
64645_rns_2008-02-18_37521c9c-7a2b-4af7-9735-fbf11a539c06.pdf
Capital/Financing Update
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ASX/MEDIA RELEASE
19 February 2008
Clough signs up for new commercial office tower in Perth CBD with Charter Hall and Cape Bouvard
Engineering and construction company Clough Limited (ASX:CLO) today advised that it has signed a 12 year lease agreement with Joint Venture partners Charter Hall’s Opportunity Fund No.4 (CHOF4) and Cape Bouvard Investments in Alluvion, an impressive new commercial office tower in the Perth CBD.
A copy of the Charter Hall and Cape Bouvard Investments release is attached.
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For further information, please contact:
Richard Simons, Group Manager Corporate Finance +61 8 9281 9300 Gaye Gelok, Manager Communications & Marketing +61 8 9281 9451/0413 336 323
About Clough
Clough is an Australian based multidisciplinary engineering, construction and asset support contractor operating in Australia and South East Asia, and undertakes capital projects, marine construction, fabrication, asset support and mining. Clough focuses primarily on the upstream oil and gas industry sector, and in minerals and water infrastructure. It has significant capability in project management, engineering, supply chain management, fabrication, construction, commissioning, and operations and maintenance.
www.clough.com.au
Clough Limited ABN 59 008 678 813
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CHARTER HALL AND CAPE BOUVARD SIGN CLOUGH FOR NEW COMMERCIAL OFFICE TOWER IN PERTH CBD
Tuesday, 19 February 2008
Joint Venture partners Charter Hall’s Opportunity Fund No.4 (CHOF4) and Cape Bouvard Investments are pleased to announce the signing of Clough Limited to a 12 year lease agreement in Alluvion, an impressive new commercial office tower in the Perth CBD.
Clough Limited has secured 12,560m[2] of A-Grade office space at the $220 million Perth CBD office development and will occupy levels 7 to 14, housing around 700 personnel.
Situated at 58 Mounts Bay Road and with direct level access from St Georges Terrace, Alluvion is a 22,500m² office building which has been designed to embrace the magnificent and panoramic views of the Swan River and Kings Park. The development comprises 14 levels of commercial office space, three levels of secure car parking and a triple height foyer.
Alluvion has been designed to achieve a 4.5 Star Australian Building Greenhouse Rating (ABGR), embracing the latest in environmental design initiatives. Alluvion will be one of the first commercial office towers in the Perth CBD to achieve this level of environmental efficiency.
David Southon, Charter Hall’s Joint Managing Director said: “Charter Hall’s experience and successful track record in creating A-Grade commercial office buildings has enabled us to gain a better understanding of what tenants such as Clough need from an office environment to ensure a combination of optimal efficiency and productivity. This significant leasing commitment represents another significant milestone contributing to the overall success of Charter Hall’s fourth opportunity fund, CHOF4”.
Lee Pinkerton, Cape Bouvard’s General Manager said: “We are pleased to secure a tenant of Clough’s calibre to underpin the leasing of this building particularly as they are an iconic West Australian company. Combined with our own commitment to the upper levels of the building and with the remaining space currently under negotiation we are confident that this building shall soon be fully let. The strong interest in this building demonstrates the confidence of the market in the project and the Joint Ventures’ ability to deliver”.
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The new location will provide an excellent platform from which Clough can maximise its human resources objectives. John Smith, Clough’s Chief Executive Officer said: “Reestablishing Clough in Alluvion will enable us to better integrate our functional groups by providing planned accommodation to better cater for all our personnel, including project teams”. Adding further ”Alluvion will provide us with more enhanced branding in a more visible location, while still remaining close to our key clients”.
Alluvion is expected be completed in April 2010 and it is anticipated Clough will move in shortly thereafter.
Jones Lang LaSalle and Savills are close to finalising negotiations with tenants for the remainder of the building and we look forward to making further announcements in the near future.
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For more information please contact the following:
David Southon Lee Pinkerton Richard Simons Joint Managing Director General Manager Group Manager Corporate Finance Charter Hall Group Cape Bouvard Investments Pty. Ltd. Clough Limited +61 2 8908 4025 +61 8 9429 3400 +61 8 9281 9300 [email protected] [email protected] [email protected]
About the Charter Hall Group:
Charter Hall Group is a property funds management and development company, based in Sydney with offices in Brisbane, Perth and Auckland. Established in 1991 and listed on the ASX in 2005 as a stapled security under the code CHC, Charter Hall Group combines Charter Hall Limited with Charter Hall Property Trust. The Group currently has funds under management of $3.7 billion. The Charter Hall Group has achieved a solid track record across its activities demonstrating a 10 year history of managing wholesale capital, making it one of Australia’s leading property fund managers. Charter Hall’s success has been underpinned by a highly skilled, incentivised and motivated management team with diverse expertise across property sectors and risk-return profiles.
About Cape Bouvard Investments:
Cape Bouvard Investments is one of Australia’s largest privately owned companies renowned for setting new benchmarks in residential living and commercial developments. Cape Bouvard has built a reputation for excellence in development of prime waterfront sites and urban renewal projects. Cape Bouvard’s success has been founded on principles of environmental sensitivity and superior levels of quality and design. Our creations reflect these ideals, creating a distinctive point of difference which allows us to provide some of the best real estate development opportunities in today’s marketplace.