Charter Hall Retail REIT to sell assets in Western NSW for $21.5mright-arrow
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by Charter Hall Announcements

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Charter Hall Retail REIT (ASX:CQR) (the REIT) today announced that it has entered into a Call Option Deed to sell three non-core properties in Central Western NSW for $21.55 million. The assets sold are located in Bathurst, Narromine and Wellington with the combined sale price reflecting a 3.5% premium to the June 2014 book value.

Settlement is expected in four weeks, with proceeds from the sale being utilised toretire approximately $18.9 million of CMBS notes and pay down approximately $2.2 million of the REIT’s revolving bank debt facility. Fund Manager, Scott Dundas, said that the sale of these non-core assets reinforces the REIT’s focus on enhancing the quality of its portfolio, in line with its stated strategy.