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Charter Hall Retail REIT Divests Two Assets

06/11/2018

Charter Hall Retail REIT (ASX: CQR) (the REIT) today announced the divestment of two lower growth assets for a total consideration of $76.1 million. The REIT has contracted to divest Coomera Square, QLD and a freestanding Woolworths asset at Young, NSW. The assets were sold at a small discount to book value with settlement forecast to occur in December 2018 for Coomera Square and February 2019 for the Young asset.

The divestments are consistent with the REIT’s strategy to divest smaller assets and recycle capital into centres which are the dominant convenience based offers in their respective catchments.

Barring unforeseen events, CQR’s FY19 guidance is for operating earnings to grow by 2.0% per security over FY18. The distribution payout range is expected to be between 90% to 95% of operating earnings.

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For further information, please
contact:

Greg Chubb
Retail CEO
Charter Hall Retail REIT 

T +61 2 8651 9355
greg.chubb@charterhall.com.au

For investor enquiries, please
contact:

Phillip Cheetham 
Head of Listed Investor Relations
Charter Hall

T +61 2 8651 9214
philip.cheetham@charterhall.com.au

For media enquiries, please
contact:

Angus Booth
Group Manager – External Affairs
Charter Hall 

T: +61 8651 9223 
angus.booth@charterhall.com.au     

Christine Kelly
Deputy Fund Manager CQR and Head of Retail Finance
Charter Hall Retail REIT 

T +61 2 8651 9401
christine.kelly@charterhall.com.au