Charter Hall Direct Wollert Fund

Fund Overview

The Charter Hall Direct Wollert Fund which in a 80/20 joint venture with ID_Land, is developing a 42 hectare residential master planned community in Melbourne’s rapidly growing Northern Growth Corridor. Wollert is located in the City of Whittlesea, approximately 25 kilometres north of the Melbourne CBD. Wollert is ideally positioned between Craigieburn and Mernda, and will essentially form a bridge between these two thriving suburbs.

The Project is on the northern side of Craigieburn Road, approximately 3 kilometres east of the Hume Freeway, the main north-south arterial route into Melbourne and 4.5 kilometres west of the proposed Outer Metropolitan Ring Road, which is planned to improve road connectivity between key employment nodes of Melbourne’s north and west.  The Project is also well located between the key employment hub of Craigieburn, Epping Plaza Regional Shopping Centre and the soon-to-open new Melbourne Fresh Produce Market. The Project is located approximately 4 kilometres east of Craigieburn, offering future residents convenient access to the existing Craigieburn Train Station.

As at 30 June 2018, 345 lots had been sold, reflecting 96.9 per cent of lots released to the market and 61.3 per cent of the Amber estate.

The Fund’s forecast investment return has been upgraded to an equity IRR (post fees, pre tax) of 24.8 per cent from the initial 17.0 per cent, and the return on equity (post fees, pre tax) has been upgraded from 56.0 per cent to 85.0 per cent.

(For more information on Amber Estate please visit www.amberwollert.com.au)

Sector Residential Land Development
Location Wollert, Vic
Size Circa 563 residential lots
Charter Halls Interest (%) 80
Charter Hall Co-Investment in the Fund (%) 25
JV Partner ID_Land
Marketing  Commenced November 2016

Key Financial Information

Fund Type The Fund is a closed end, unlisted development fund
Construction Commencement May 2017
Equity IRR* (% pa) 24.8
Return on Equity * (%) 85.0
Fund Termination August 2021
  • Post fees, pre tax.

Our Board

Grant Hodgetts
Non-Executive Chairman
BA, Assoc Dip Val, AAPI, MAICD
Greg Paramor AO
Non-Executive Director
FAPI, FAICD, FRICS
Ross Strang
Non-Executive Director
LLB (HONS), MAICD
Adrian Harrington
Head of Capital & Product Development
B.SC (HONS), FFINSA, GAICD

Our Executives

Ben Dodwell
Head of Diversified Development
BA (I.D.), Grad. Dip. App. Fin. SIA, DIP PROP FIN, MAICD
Adrian Harrington
Head of Capital & Product Development
B.SC (HONS), FFINSA, GAICD
Scott Martin
Head of Finance - Diversified
B.Com, CA
Mark Stewien
Head of Legal - Diversified
LL.B, BCom (Finance)
Sean Wilson
Investment Manager
B.com, B.Bus (Real Estate Development & Valuation)

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