Unlisted Direct Property Funds

Our funds provide an opportunity to include commercial property in your investment mix.

Unlisted direct property investing is an investment in commercial property – that includes Convenience Retail, Industrial & Logistics, Social Infrastructure and Office - via a direct or unlisted property fund.

Featuring quality properties on long-term leases, and delivering regular returns with the potential for capital growth, they’re the types of investment favoured by large institutions like super funds. They can also act as an important cornerstone in a balanced portfolio, offering diversification benefits, access to regular income and returns that have a low correlation to listed investments.

Unlisted Direct Property Funds

Investment in unlisted direct property funds can form an important part of a diversified portfolio.

Unlisted direct property funds can provide an attractive income return and the potential for capital growth. They derive income from real properties with long leases and locked in annual rent increases. They are unlisted, meaning they are not listed on the ASX. It is important to note that different investments carry different levels of risk. For example, while an investment in direct property may offer higher income and less volatility than some other asset classes, it may carry additional risks. 

Charter Hall Direct has funds that invest in high quality, long leased commercial property that are open now for investment.

Please refer to the relevant Product Disclosure Statement or Information Memorandum for a summary of the key investment risks. Past performance is not an indicator of future performance.

All funds
Open
Closed
open
TEF2
Charter Hall Telco Exchange Fund No.2 (TEF2)

Charter Hall Telco Exchange Fund No.2 (TEF2) is a 5‑year fixed‑term, unlisted property fund investing in a diversified portfolio of Australian telecommunications exchange assets leased to Telstra.

Key stats

Target return (5 year)*

+14% p.a.

Target return (5 year)*

WALE

14.7 years

WALE

Occupancy

100%

Occupancy

Target return (5 year)*

+14% p.a.

Target return (5 year)*

WALE

14.7 years

WALE

Occupancy

100%

Occupancy

closed
CHOT3
Charter Hall Office Trust No.3 (CHOT3)

Charter Hall Office Trust No.3 (CHOT3) is a 5-year fixed-term, unlisted office syndicate investing in two core Prime Australian office assets. (Wholesale Investors only)

Key stats

open
DOF
Charter Hall Direct Office Fund (DOF)

Charter Hall Direct Office Fund (DOF) is an unlisted property fund with a diversified and growing quality Australian office property portfolio with a focus on CBD and established property markets.

Key stats

Distribution Yield*

8.8%

Distribution Yield*

Portfolio Valuation

$1.5bn

Portfolio Valuation

WALE

4.2 years

WALE

Distribution Yield*

8.8%

Distribution Yield*

Portfolio Valuation

$1.5bn

Portfolio Valuation

WALE

4.2 years

WALE

closed
CHOT2
Charter Hall Office Trust No.2 (CHOT2)

Charter Hall Office Trust No.2 is a fixed-term unlisted property Partnership investing in two core prime Australian CBD office assets at a discount to independent valuation and materially below replacement cost. (Wholesale Investors only)

Key stats

open
WPS3
Charter Hall Wholesale Property Series No.3 (WPS3)

Charter Hall Wholesale Property Series No.3 (WPS3) is an unlisted property fund with investments in diversified quality Australian commercial property portfolios. (Wholesale Investors only)

Key stats

closed
DIF3
Charter Hall Direct Industrial Fund No.3 (DIF3)

Charter Hall Direct Industrial Fund No. 3 (DIF3) is closed to new investment.

Key stats

closed
WPS2
Charter Hall Wholesale Property Series No.2 (WPS2)

Charter Hall Wholesale Property Series No.2 (WPS2) is closed to new investment.

Key stats

closed
DVAP3
Charter Hall Deep Value AREIT Partnership No.3 (DVAP3)

Charter Hall Deep Value AREIT Partnership No.3 closed to new investment.

Key stats

closed
TEF
Charter Hall Telco Exchange Fund

Charter Hall Telco Exchange Fund is closed to new investment.

Key stats

open
DIF4
Charter Hall Direct Industrial Fund No.4 (DIF4)

Charter Hall Direct Industrial Fund No.4 (DIF4) is an unlisted property fund with an established portfolio of quality Australian industrial and logistics properties.

Key stats

Distribution Yield

5.6%

Distribution Yield

Portfolio Valuation

$3.3bn

Portfolio Valuation

WALE

3.3 years

WALE

Distribution Yield

5.6%

Distribution Yield

Portfolio Valuation

$3.3bn

Portfolio Valuation

WALE

3.3 years

WALE

closed
WPS1
Charter Hall Wholesale Property Series No.1 (WPS1)

Charter Hall Wholesale Property Series No.1 (WPS1) is closed to new investment.

Key stats

open
DCRF
Charter Hall Direct Convenience Retail Fund (DCRF)

Charter Hall Direct Convenience Retail Fund (DCRF) is an unlisted property fund providing access to a defensive Portfolio of high-quality non-discretionary convenience-based shopping centre and net lease retail properties. (Wholesale Investors only)

Key stats

open
Maxim
Charter Hall Maxim Property Securities Fund (Maxim)

Charter Hall Maxim Property Securities Fund (Maxim) gives investors exposure to a mix of quality listed A-REITs that own assets across the retail, residential, commercial, industrial and real estate related social infrastructure sectors.

Key stats

closed
BW
Charter Hall Direct BW Trust (BW)

Charter Hall Direct BW Trust (BW) is closed to new investment.

Key stats

closed
Plumpton
Charter Hall Direct Plumpton Fund

Charter Hall Direct Plumpton Fund is a Residential Real Estate Development Fund.

Key stats

open
LWF
Charter Hall Direct Long WALE Fund (LWF)

Charter Hall Direct Long WALE Fund (LWF) is an unlisted property fund with an established and growing portfolio of predominantly long WALE Properties diversified across geographies and sectors.

Key stats

Distribution Yield

6.8%

Distribution Yield

Portfolio Valuation

$308m

Portfolio Valuation

WALE

6.2 years

WALE

Distribution Yield

6.8%

Distribution Yield

Portfolio Valuation

$308m

Portfolio Valuation

WALE

6.2 years

WALE

closed
Truganina
Charter Hall Direct Truganina Fund

The Charter Hall Direct Truganina Fund is a closed Residential Real Estate Development Fund.

Key stats

closed
Sydney Airport Hotel
Charter Hall Direct Sydney Airport Fund

The Fund is a single asset, closed end, unlisted hotel fund.

Key stats

closed
Direct Green Square
Charter Hall Direct Green Square Fund

The Charter Hall Direct Green Square Fund was launched in November 2017, to fund the development of the hotel on a fund-through basis. The hotel opened in 2019 and the Fund will own the hotel long-term.

Key stats

closed
Wollert
Charter Hall Direct Wollert Fund

The Charter Hall Direct Wollert Fund is a Closed Residential Real Estate Development Fund.

Key stats

open
PFA
Charter Hall Direct PFA Fund (PFA)

Charter Hall Direct PFA Fund (PFA) is an unlisted property fund with an Australian office property portfolio anchored by government or well regarded corporate tenants.

Key stats

Distribution Yield

+9%

Distribution Yield

Portfolio Valuation

$1.4bn

Portfolio Valuation

WALE

5.1 years

WALE

Distribution Yield

+9%

Distribution Yield

Portfolio Valuation

$1.4bn

Portfolio Valuation

WALE

5.1 years

WALE

Getting started with Unlisted Direct Property investment

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Interested in getting started? Understand how to invest with us

Commercial property offers mid-to-long-term investments with regular income where you can gain exposure to quality properties. 

If you’re interested in the benefits of a direct property fund, talk to your financial adviser or contact us directly. 

Speak with our team
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Learn about commercial property investment

 

Whether you’re new to investing or know a thing or two, there’s a lot to discover.

One of things you’ll have heard is the importance of a diverse portfolio. Having a wide range of investments can help manage the ups and downs of individual sectors.

Learn more

Commercial Property Fundamentals

Discover why commercial property can play a pivotal role in a diversified portfolio. In this insights video, we break down the fundamentals and explore the benefits of both unlisted and listed property funds.

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Important Information
This website is issued by Charter Hall Direct Property Management Limited ABN 56 073 623 784 AFSL 226849 (CHDPML) as the issuer of units in the Charter Hall Direct Industrial Fund No.4 (ARSN 615 152 817), Charter Hall Direct Long WALE Fund (ARSN 622 080 979), Charter Hall Direct Office Fund (ARSN 116 064 343) and Charter Hall Direct PFA Fund (ARSN 097 860 690) (Retail Funds) and in the Charter Hall Direct Convenience Retail Fund, Charter Hall Telco Exchange Fund No.2 and Charter Hall Wholesale Property Series No.3 (Wholesale Funds). Product Disclosure Statements (PDSs) and Target Market Determinations (TMDs) for the Retail Funds and Information Memorandums (IMs) for the Wholesale Funds are available at www.charterhall.com.au. An investment is subject to risks which are summarised in the relevant PDS or IM (Offer Document). You should consider the relevant Offer Document and any supplementary Offer Document in deciding whether to acquire or continue to hold the product. This website is not an offer of units in the Retail Funds or Wholesale Funds or an offer to buy or sell any financial product and should not be relied on in making an investment decision. The information is general in nature and does not take into account your investment objectives, particular needs or financial situation. You should seek independent financial advice. Applications to invest can only be made using the application form relevant to the product. You can obtain a copy of the relevant Offer Document and application form from www.charterhall.com.au or by calling 1300 652 790. You can only apply to invest in a Wholesale Fund if you are a wholesale client (within the meaning of that term under the Corporations Act 2001 (Cth)). Whilst all care has been taken in preparation of this website CHDPML does not give any representation or warranty as to the reliability, completeness or accuracy of the information contained on this website. CHDPML does not accept liability for any inaccurate, incomplete or omitted information of any kind or any losses caused by using this information. Past performance is not a reliable indicator of future performance. Any forward-looking statement on this website is predictive in character and may be affected by inaccurate assumptions or by known or unknown risks and uncertainties and may differ materially from results ultimately achieved. All figures on this website are as at 31 March 2026 and in Australian dollars unless otherwise stated. © Charter Hall Group.

Direct Investor Team