Charter Hall Retail REIT 31 December 2020 portfolio valuation and 1HFY21 distribution

Charter Hall Retail REIT (ASX:CQR) (“CQR” or the “REIT”) today announces that 59% of CQR’s total portfolio (by value) was independently revalued at 31 December 2020. Inclusive of forecast capex, the revaluations resulted in a like-for-like portfolio valuation increase of $44 million for the period from 30 June 2020 to 31 December 2020, which is expected to have a positive impact on net tangible assets. The total portfolio cap rate remains unchanged at 6.02%.

CQR’s shopping centre convenience retail portfolio valuation increase over the period was $33 million, with the like-for-like cap rate moving from 6.20% to 6.21%.

The REIT’s long WALE retail portfolio valuation increase over the period was $11 million, with the like for- like cap rate compressing from 5.14% to 5.07%.

COVID-19 related tenant support continues to diminish month on month.

Full details of valuation movements, capex and individual asset valuations will be provided at CQR’s half-year results in February 2021.

^{1. Divestment of West Ryde Marketplace and acquisition of Coles Adelaide Distribution Centre in July 2020}

CQR also declares the distribution for the period ending 31 December 2020 of 10.7 cents per unit.

The distribution reinvestment plan will be active for this period.

Announcement authorised by the Board

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