Charter Hall Retail REIT - December 2021 Valuation Update and 1HFY22 Distribution

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Charter Hall Retail REIT (CQR) today announces the results of December portfolio valuations and the 1HFY22 distribution.

CQR had 100% of the portfolio independently valued as at 31 December 2021.

The valuations resulted in a $314 million, or 8.5% increase on prior book values inclusive of forecast capital expenditure¹. The overall portfolio value has increased from $3,647 million² to $4,012 million³ and the portfolio average cap rate has compressed 43bps from 5.81% to 5.38%.

The unaudited impact of the valuations announced today represent an increase in the estimated NTA per security from $4.01 to $4.48, a $0.47 or 11.7% increase on the June 2021 NTA.⁴

1HFY22 Distribution

CQR also declares the distribution for the period ending 31 December 2021 of 11.7 cents per unit.

The distribution reinvestment plan will be active for this period.

CQR will report the REIT’s Half-Year Financial Year 2022 Results on 23 February 2022.

Announcement Authorised by the Board

Click here to view the ASX Announcement

^{1 Estimated to be $40 million for the six months ending 31 December 2021}
^{2 As at 30 June 2021. Excludes acquisition of Butler Central for $51 million August 2021}
^{3 Includes acquisition of Butler Central for $51 million August 2021. BP NZ valuation still pending closing FX rates.}
^{4 Subject to audit and finalisation of statutory accounts. Includes estimated $40m of capital expenditure for the six months ending 31 December 2021. Excludes movement
in working capital, derivative valuations and FX}