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News Originally posted at afr.com

Charter Hall transfers facilities management to CBRE

September 12, 2017

Among Charter Hall's commercial properties is 2 Park Street, Sydney. Photo: Supplied

Charter Hall has appointed CBRE to provide facilities management services for more than 3 million square metres of commercial property in Australia, in a key win for the firm’s asset services business.

Charter Hall is one of Australia’s largest property groups with a total managed property portfolio of $19.8 billion, and facilities management is one of the more important revenue streams for a real estate firm to win.

Charter Hall has operated its facilities management team via an outsourced property model since its inception in 1991 with previous facility manages such as Knight Frank.

The listed group recently tendered the facilities management contract for two separate portfolios, comprising 43 office towers and 110 industrial assets.

CBRE’s Pacific head of asset services, Amanda Steele, said: “We are delighted to have secured this contract from the incumbent, providing us the opportunity to partner with Charter Hall and assist in delivering on their overall portfolio objectives.

“We look forward to implementing a new-generation service model, which has an overriding focus on Charter Hall’s tenant customers, service excellence and innovation.”

The facilities management contract encompasses office properties of nearly 800,000 sq m and industrial assets totalling 2.5 million sq m.

Overall Charter Hall Group, through its various partnerships and funds, owns and manages 329 properties in Australia, including office buildings, retail properties via supermarket anchored retail centres, hardware, hospitality assets and automotive dealerships, and a rapidly growing stable of industrial assets. Its biggest tenants include the government (accounting for 21 per cent of gross income) and Telstra (9.2 per cent). Other major tenants include BankWest and Macquarie.

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