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Charter Hall Retail REIT March 2013 Quarterly Operational Update

07/05/2013

Charter Hall Retail REIT (ASX:CQR) (the 'REIT') today announced an operational update for the quarter ending 31 March 2013.

During the quarter, the REIT finalised the sale of its interest in the last United States joint venture entity with Regency Centers. The sale of these assets was in line with book value and realised net proceeds of $11 million, which will be reinvested into Australian acquisitions or redevelopment opportunities. The REIT now has only three small assets remaining in the United States which are being marketed for sale.

The REIT completed 83 new leases and renewals across the Australian portfolio, delivering specialty rental rate growth of 3.0% during the quarter, with occupancy maintained at 98.5%.

Anchor tenant MAT growth for stores in turnover was 4.3% at 31 March 2013, highlighting the resilience of the REIT's non-discretionary Australian portfolio. Specialty shop sales grew at 1.4%.

Scott Dundas, Fund Manager of the REIT, said: “We are pleased to report that our Australian portfolio continued to deliver solid results during the third quarter, reflecting the strength of the non-discretionary retail sector. As we finalise the reweighting of the REIT‟s portfolio to Australia, we will continue to enhance our existing Australian portfolio through accretive acquisitions and redevelopments, withapproximately $100 million of works currently underway.

For further information, please contact:

Scott Dundas
Fund Manager
Charter Hall Retail REIT
T: +61 8295 1009
scott.dundas@charterhall.com.au
Philip Schretzmeyer
General Manager Finance
Charter Hall Retail REIT
T: +61 8295 1023
philip.schretzmeyer@charterhall.com.au
Investor enquiries:

Kylie Ramsden
Head of Listed Investor Relations
Charter Hall
T: +61 2 8295 1016
kylie.ramsden@charterhall.com.au
Media enquiries:

Rachel Mornington-West
Head of Marketing and Communications
Charter Hall
T: +61 2 8908 4093
rachel.mornington-west@charterhall.com.au

About Charter Hall Retail REIT:

Charter Hall Retail REIT is a leading listed real estate investment trust with a portfolio of predominantly Australian high quality supermarket anchored neighbourhood and sub-regional shopping centres.

Charter Hall Retail REIT is managed by Charter Hall Group (ASX:CHC), one of Australia's leading fully integrated property groups, with over 22 years' experience managing high quality property on behalf of institutional, wholesale and retail clients. Charter Hall has $10 billion of funds under management across the office, retail and industrial sectors. The Group has offices in Sydney, Melbourne, Brisbane, Adelaide and Perth. The Group's success is underpinned by a highly skilled and motivated team with diverse expertise across property sectors and risk-return profiles. Sustainability is a key element of its usiness approach and by ensuring its actions are commercially sound and make a difference to its people, customers and the environment, Charter Hall can make a positive impact for its investors, the community and the Group. For further information on Charter Hall Group and Charter Hall Retail REIT go to www.charterhall.com.au

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