_Technical due diligence advice provided to Charter Hall in Coles Five Dock acquisition

The Coles located in Five Dock, the inner west of Sydney, comprises a supermarket and a single restaurant outlet across 3550 sqm of space.

Coles Five Dock was acquired by Charter Fund from an investor who had bought the supermarket four years earlier.

As part of this acquisition, Knight Frank Building Consultancy were appointed by Charter Hall to provide Purchaser Technical Due Diligence advice.

The Building Consultancy team, led by Kate Hampton MRICS, Senior Building Consultant, undertook the site inspection on 26 July and delivered on a compressed timeframe with the preliminary report completed within 48 hours and the final report issued by 30 July.

The property exchanged for $25.9 million on a 4.29 per cent yield and was acquired by Charter Fund to a private investor. This reflects the high demand for retail assets that provide essential daily supplies, particularly during the pandemic.

"Chris Barker and the Knight Frank team has assisted Charter Hall with many acquisitions. They understand our requirements and are flexible at tailoring for any specific requests and timing deadlines.

"Their professionalism and expertise are evidenced in the quality of the technical reports delivered. It makes it easy when you have trust and confidence in the consultants, which is exactly what we get from the Knight Frank team," said Ceanda Mah, Transaction Manager, Charter Hall.

For more information, please contact:

Chris Barker MRICS
Partner, Head of Building Consultancy
+61 404 203 579
Chris.Barker@au.knightfrank.com