With a focus on non-discretionary retail, we manage a $6.0 billion Australian retail portfolio.
We optimise returns for our investors, and create enjoyable environments for the 100 million shopper visitations to our centres each year, by providing end-to-end property services for each centre. These services include everything from facilities management and leasing through to asset management.
We have a team of 168 retail property professionals and are focused on opportunities to enhance our existing properties through management initiatives and redevelopments.View all properties
Fund Payment Notice Charter Hall Retail REIT
ATTRIBUTION MANAGED INVESTMENT TRUSTS – NOTICE FOR CUSTODIAN AND OTHER INTERMEDIARY INVESTORS IN RESPECT OF THE 28 FEBRUARY 2018 INTERIM DISTRIBUTION
Record date: 31 December 2017
Payable date: 28 February 2018
Total distribution: 14.0 cents per ordinary unit
Notice from Attribution Managed Investment Trust re fund payment
Charter Hall Retail Management Limited (“CHRML”), the responsible entity for Charter Hall Retail REIT (“REIT”), declares that the REIT is an Attribution Managed Investment Trust for the purposes of Subdivision 12-A B of Schedule 1 of the Taxation Administration Act 1953, in respect of the half year ended 31 December 2017.
Charter Hall Retail REIT 1H 18 Results
Charter Hall Retail REIT delivers on strategy and positions for growth
Charter Hall Retail REIT (ASX:CQR) (CQR or the REIT) today announced its results for the half year to 31 December 2017.
Key financial results:
- Operating earnings of $61.9 million or 15.30 cents per unit, an increase of 0.6% on the prior corresponding period (pcp)
- Distributions of 14.00 cents per unit, maintaining a sustainable payout ratio range between 90% to 95%
- Net tangible assets (NTA) up 1.5% to $4.19 per unit
- Pro-forma balance sheet gearing of 33.9% post asset sales remains in the middle of the 30-40% range
- Portfolio value of $2.9 billion, up 5.2% from $2.8 billion at June 2017
- Repaid and cancelled $50 million debt facility. No debt maturing until FY21
- Acquired Salamander Bay, NSW and Highfields, QLD for $215.5 million at a yield of 6.0%. Divested 11 lower growth properties for $229.8 million1 at an average yield of 6.9%
- Commenced $70 million2 of redevelopment works at Lake Macquarie, NSW and Wanneroo, WA
- Like-for-like net property income (NPI) growth of 1.3% pcp
- Majors MAT growth of 4.1% for stores in turnover
- Portfolio MAT growth of 2.3%
- Completed 118 lease renewals and 74 new leases reflecting continued focus on specialty leasing
- Stable occupancy at 97.8%
- Majors WALE of 10.8 years and portfolio WALE of 6.7 years
Moodys Ratings Outlook Update
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We actively look for opportunities to enhance both our centres and their returns by refurbishing existing centres and redeveloping our properties, so they remain as dynamic shopping environments for the local community.
View our retail projects