Charter Hall Retail REIT - June 2023 Property Valuation Update

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by Charter Hall Announcements

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Charter Hall Retail REIT (ASX: CQR) today announces the results of June portfolio valuations.

CQR had 97% of the portfolio independently valued as at 30 June 2023.

The valuations resulted in a net movement of $164 million, inclusive of capex1, reflecting a 3.7% devaluation. The overall portfolio value has decreased to $4,289 million2 and the portfolio average cap rate has expanded 29bps from 5.28% to 5.57%.

The shopping centre convenience retail portfolio cap rate has expanded 29bps from 5.52% to 5.81% and the Long WALE convenience retail portfolio cap rate has expanded 29bps from 4.54% to 4.83%.

The unaudited impact of the valuations announced today represent a $0.28, or 5.6% decrease on the December 2022 NTA of $5.01. This excludes movements in working capital, derivatives and FX.

These impacts are subject to audit and finalisation of statutory accounts . CQR will report its Financial Year 2023 Results on 15 August 2023.

Announcement Authorised by the Board

Click here to view pdf ASX Announcement