Charter Hall Group (Charter Hall or the Group) today announced that its unlisted institutional fund the Charter Hall Convenience Retail Fund (CCRF or the Fund) has acquired a portfolio of three high-quality metro-located shopping centres for a combined value of $360 million at a forecast year one yield of 5.74%. CCRF’s growing portfolio now has a total of 35 non-discretionary convenience retail assets, bringing its gross asset value to more than $3 billion, with significant further capacity to expand.
The portfolio comprises three sub-regional convenience-based assets across the major Eastern Seaboard metropolitan markets of Sydney, Brisbane and Melbourne, located in the densely populated catchments of Bonnyrigg, Morayfield and Summer Hill, respectively.
The 100% occupied portfolio is anchored by strong-performing major tenants including Coles, Woolworths, ALDI, Kmart and Big W.
Each asset benefits from substantial landholdings with low site coverage of approximately 35% with “land rich” underlying land values, providing potential to unlock additional income streams and capital growth through active asset management and leasing.
You can now read the full press release at the link below
