Charter Hall Retail REIT Provides Half Year Results

Charter Hall Retail REIT (ASX:CQR) (CQR or the REIT) today announced its results for the half year to 31 December 2017.

Charter Hall’s Retail CEO, Greg Chubb said: “We have repositioned the portfolio for growth a process that began 18 months ago. The focus of the portfolio continues to remain on convenience based nondiscretionary retail uses driven by Australia’s leading major supermarket brands who have delivered a combined MAT growth of 2.9%.”

The REIT’s $2.9 billion national portfolio of 66 convenience based supermarket-anchored shopping centres delivered stable occupancy of 97.8% and like-for-like NPI growth of 1.3%. Property values on a like-for-like basis increased by $42 million representing 1.5% growth over the whole portfolio and an average asset value of $50.1 million.

The REIT’s supermarkets continued to perform well with 51% of supermarket tenants now paying turnover rent with a further 19% within 10% of their turnover thresholds. Supermarket MAT growth for stores paying turnover rent was 3.8% for the period.


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