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CHARTER HALL GROUP — Capital/Financing Update 2009
May 19, 2009
64645_rns_2009-05-19_7b28f3dc-9d55-489a-8a06-54f306d57a48.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
CHARTER HALL SELLS BUNNINGS BOX HILL FOR $21.5 MILLION
Wednesday, 20 May 2009
Charter Hall Group (CHC) is pleased to announce that its Core Plus Retail Fund (CPRF) has exchanged contracts to sell Bunnings at Box Hill in Victoria, to a private investor for $21.5 million, with settlement to occur once the Bunnings lease is registered on title, expected to be late June, 2009. The sale reflects a yield of 8.00%.
The sale of Box Hill increases total CPRF sales to $42 million this month and represent early results of marketing campaigns initiated to meet the previously announced de-leveraging strategy. Once settled the gearing of CPRF would fall to c. 44%.
The sale of Bunnings at Box Hill was managed through Cushman Wakefield and Jones Lang LaSalle.
ENDS
For further media enquiries or to arrange a media interview, please contact:
| David HarrisonJoint Managing Director0412 259 751[email protected] | David SouthonJoint Managing Director0418 479 155[email protected] | Jo StilesMarketing & Communications Manager0414 499 199[email protected] |
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About the Charter Hall Group:
Charter Hall Group is a property funds management and development company, based in Sydney with offices in Melbourne, Brisbane, Perth and Auckland. Established in 1991 and listed on the ASX in 2005 as a stapled security under the code CHC, Charter Hall Group combines Charter Hall Limited with Charter Hall Property Trust. The Group currently has funds under management of $3.9 billion. The Charter Hall Group has achieved a solid track record across its activities demonstrating a 13 year history of managing wholesale capital, making it one of Australia’s leading property fund managers. Charter Hall’s success has been underpinned by a highly skilled and motivated management team with diverse expertise across property sectors and risk-return profiles.