Fund at glance
- Properties 58
- Portfolio valuation $2.8 billion
- Occupancy 98.1%
- NTA per unit $4.22
- WALE 6.5 years
With a focus on convenience based non‑discretionary retail, we manage a $6.6 billion Australian retail portfolio. We optimise returns for our investors and create enjoyable environments for the 130 million shopper visitations to our centres each year, by providing end-to-end property services across our entire portfolio.
Charter Hall Retail REIT invests in high quality Australian convenience and convenience plus shopping centres. Our Australian portfolio is geographically diverse and benefits from exposure to key markets along the eastern seaboard and across a number of high growth regions.
Charter Hall Retail REIT is managed by Charter Hall Group (ASX:CHC), one of Australia’s leading property groups which owns and manages office, retail and industrial properties. Charter Hall has over 28 years experience managing high quality office, retail and industrial property on behalf of institutional, wholesale and retail clients, with funds under management totalling $28.4 billion.
Charter Hall Retail REIT acquires convenience plus centre Campbellfield Plaza for $74 million
Charter Hall Retail REIT (ASX:CQR) (CQR or the REIT) today announced that it has executed an unconditional contract to acquire Campbellfield Plaza in Melbourne’s northern suburbs for a total consideration of $74 million. The transaction reflects a fully let yield of 6.5%.
CQR completes debt refinance, announces 1H19 Distribution and reactivates DRP
Charter Hall Retail REIT (ASX:CQR) (CQR or the REIT) today announces the successful completion of a $210 million debt refinancing. The existing FY21 debt facility has been replaced with a $40 million facility maturing on FY22 and a $170 million facility maturing in FY23. The REIT now has no debt maturing until FY22.
Charter Hall Retail REIT 1H 18 Results
Charter Hall Retail REIT delivers on strategy and positions for growth
Charter Hall Retail REIT (ASX:CQR) (CQR or the REIT) today announced its results for the half year to 31 December 2017.
Key financial results:
- Operating earnings of $61.9 million or 15.30 cents per unit, an increase of 0.6% on the prior corresponding period (pcp)
- Distributions of 14.00 cents per unit, maintaining a sustainable payout ratio range between 90% to 95%
- Net tangible assets (NTA) up 1.5% to $4.19 per unit
- Pro-forma balance sheet gearing of 33.9% post asset sales remains in the middle of the 30-40% range
- Portfolio value of $2.9 billion, up 5.2% from $2.8 billion at June 2017
- Repaid and cancelled $50 million debt facility. No debt maturing until FY21
- Acquired Salamander Bay, NSW and Highfields, QLD for $215.5 million at a yield of 6.0%. Divested 11 lower growth properties for $229.8 million1 at an average yield of 6.9%
- Commenced $70 million2 of redevelopment works at Lake Macquarie, NSW and Wanneroo, WA
- Like-for-like net property income (NPI) growth of 1.3% pcp
- Majors MAT growth of 4.1% for stores in turnover
- Portfolio MAT growth of 2.3%
- Completed 118 lease renewals and 74 new leases reflecting continued focus on specialty leasing
- Stable occupancy at 97.8%
- Majors WALE of 10.8 years and portfolio WALE of 6.7 years
Charter Hall Retail Management Limited ABN 46 069 709 468, AFSL 246996 hereby notifies that it will rely on ASIC Class Order 13/655 in respect of the Charter Hall Retail REIT ARSN 093 143 965 (ASX: CQR).
This information has been prepared by Charter Hall Retail Management Limited (formerly Macquarie CountryWide Management Limited) ABN 46 069 709 468 AFSL 246996 ("CHRML") 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.
CHRML does not receive fees in respect of the general financial product advice they may provide, however they will receive fees for operating Charter Hall Retail REIT (Scheme) which, in accordance with the Scheme's Constitution, are calculated by reference to the value of the assets of the Scheme. Entities within the Charter Hall Group may also receive fees for managing the assets of, and providing resources to the Scheme. For more detail on fees, see our latest annual report. To contact us, call 1300 365 585 (local call cost).
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