Charter Hall sells Bunnings Box Hill for $21.5 million

20/05/2009 - PDF Version Available

Charter Hall Group (CHC) is pleased to announce that its Core Plus Retail Fund (CPRF) has exchanged contracts to sell Bunnings at Box Hill in Victoria, to a private investor for $21.5 million, with settlement to occur once the Bunnings lease is registered on title, expected to be late June, 2009. The sale reflects a yield of 8.00%.

The sale of Box Hill increases total CPRF sales to $42 million this month and represent early results of marketing campaigns initiated to meet the previously announced de-leveraging strategy. Once settled the gearing of CPRF would fall to c. 44%.

The sale of Bunnings at Box Hill was managed through Cushman Wakefield and Jones Lang LaSalle.


This information has been prepared by Charter Hall Funds Management Limited ABN 31 082 991 786; AFSL 262861 ("CHFML") for information purposes only. This website is not an offer to sell or a solicitation or an offer to subscribe or purchase or a recommendation of any securities referred to herein and the information has not taken into account any potential investors' personal objectives, financial situation or needs. Before investing, you should consider your own objectives, financial situation and needs or you should obtain financial, legal and/or taxation advice.

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