CHARTER HALL GROUP — Investor Presentation 2011

Jul 18, 2011

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What’s inside

investor Focus

Issue 3, July 2011

Charter Hall Group Update 02 Charter Hall Office Reit 03 Charter Hall Retail Reit 04 Charter Hall Direct Property 05 investment Opportunities 07 Residential Opportunities 08 Contact Us 10

Welcome to the latest edition of Charter Hall Group’s Investor Focus newsletter.

We are pleased to report that we have had a positive first half of 2011 - a year that marks the Group’s 20th anniversary as one of Australia’s leading fully integrated property groups.

We have delivered strong results for our funds and businesses as we continue to deliver on our strategies and take advantage of the improving Australian market.

Together with our investment partners we have acquired circa $450 million of property in Australia this year alone, ensuring our investors have the opportunity to benefit from improving commercial property fundamentals. This has included Charter Hall Group’s recent purchase of a 50% interest in an office development site at 685 LaTrobe Street, Melbourne and Charter Hall Retail REIT’s acquisition, in partnership with Telstra Super, of eight shopping centres from Woolworths Limited for $266 million.

Our unlisted business has continued to bring new retail products to market, with the reopening of the Charter Hall Direct Property Fund, the new Charter Hall Direct Retail Fund and Charter Hall Property Securites Fund.

Our development team has made great progress on the delivery of its $1.8 billion development pipeline, proceeding on two office developments and one retail redevelopment. The team has also commenced construction at the $600 million Little Bay Cove residential project in Sydney, being undertaken with TA Global and we are now taking registrations of interest from potential buyers.

Charter Hall Office REIT and Charter Hall Retail REIT have made positive progress on their strategies of reweighting to Australia and together have refinanced almost $1.7 billion of debt since 1 July 2010, significantly extending their debt maturity profiles. Unitholders are benefiting from this proactive management approach and improving property fundamentals through solid growth in distributions, with Charter Hall Office REIT and Charter Hall Retail REIT having recently announced their half year distributions up 19% and 7% respectively on the prior period.

Charter Hall Office REIT and US-based hedge funds

We wanted to also provide you an update on Charter Hall Office REIT (the ‘REIT’) following recent public actions from a group of its unitholders.

This group of US based activist hedge funds have called a meeting of the REIT’s unitholders to consider a resolution to replace Charter Hall Office Management Limited (‘CHOML’), a 100% owned subsidiary of Charter Hall, with Moss Capital Funds Management Limited as the responsible entity of the REIT.

We believe the replacement of CHOML is clearly not in the best interests of all unitholders. Moss Capital has not articulated an effective strategy for the REIT and has not demonstrated it has the necessary experience and resources to manage the REIT and its assets. Additionally, the fee structure proposed by Moss Capital incentivises liquidation of the REIT’s Australian portfolio, consistent with the short term objectives of the activist hedge funds. An Independent Review was undertaken by Grant Samuel and this review supports Charter Hall’s strategy for the REIT.

Charter Hall is aligned to the performance of the REIT through its $195 million co-investment in the REIT and is best placed to continue to create value for all unitholders through our active management of the REIT. We will strongly contest this attempt to remove Charter Hall as manager.

Despite this public campaign by a minority group of unitholders with a short term investment horizon, it remains business as usual as we continue to focus on the active management of our portfolios and delivering on our strategies to drive investors returns.

We thank you for your support over the past 20 years and look forward to offering our investors more opportunities to grow their investments into the future.

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David Southon Joint Managing Director

David Harrison Joint Managing Director

Charter Hall Group update

Charter Hall Group (ASX:CHC) key highlights to date.

January

• Charter Hall launches an unlisted retail property fund, the Charter Hall Direct Retail Fund, targeting high net worth and SMSF investors.

• Charter Hall and employees donate circa $200,000 to the Queensland Premier’s Disaster Relief Appeal.

• Charter Hall Office REIT sells its interest in its Japanese office buildings for approximately A$42 million, in line with the REIT’s strategy to exit non-core markets.

• Charter Hall Retail REIT acquires Gordon village Shopping Centre and Arcade in Sydney, for $67 million

February

• Charter Hall Group, Charter Hall Office REIT and Charter Hall Retail REIT deliver strong half year results.

• The ‘Charter Hall Malabar Magic’ charity ocean swim at Little Bay, Sydney raises over $36,000 for the Rainbow Club.

March

• Charter Hall increases its holding in Charter Hall Office REIT to 10%, following Macquarie Group’s decision to sell down its holding.

• Charter Hall’s Lacrosse Apartment development in Docklands, Melbourne launches a charity partnership with Lighthouse Foundation, to raise $100,000 for homeless young people.

April

• Charter Hall Retail REIT completes the sale of the majority of the new Zealand portfolio, selling 15 properties for nZ$85.3 million and secures a conditional funding commitment to repay its Australian CMBS facility, 12 months ahead of maturity.

• Charter Hall Group celebrates 20 years as a leading fully integrated property group and launches its new sustainability policy providing a revitalised approach to understanding, managing and reducing the Group’s impacts.

• Charter Hall Office REIT is included in the global sustainability index, FTSE4GoodIndex, for the fourth consecutive year.

May

• Charter Hall Retail REIT completes the sale of its interest in the United States portfolio of properties, previously owned in partnership with Desco Group and Regency Centers, for US$168 million.

• In joint venture with Telstra Super, Charter Hall Retail REIT acquires eight neighbourhood and sub-regional shopping centres in Australia from Woolworths Limited for a total consideration of $266 million.

• Charter Hall executes a $75 million corporate debt facility with Westpac Banking Corporation to provide greater liquidity and debt capacity for the Group.

• Charter Hall acquires a 50% interest in an office development site at 685 LaTrobe Street, Melbourne entering into a Development Agreement with Flagship to jointly develop a prime grade 35,000sqm office building.

• Charter Hall Direct Property launches the Charter Hall Property Securities Fund.

June

• Commencement of construction on Charter Hall and TA Global’s $600 million Little Bay Cove residential project in Sydney.

• Charter Hall increases its corporate debt facility limit by $25 million to $100 million.

Charter Hall Group provides access to high quality property investments through holding co-investment stakes in the majority of the Charter Hall managed funds, while also generating income through property related service fees. Charter Hall manages the following suite of listed REITs and unlisted funds:

• Charter Hall Office REIT (ASX:CQO) offers investors the opportunity to invest in a listed REIT which owns high grade office buildings predominately located in major business districts across Australia and the United States.

• Charter Hall Retail REIT (ASX:CQR) invests in well located grocery anchored neighbourhood and sub-regional shopping centres together with select household retail centres.

• Retail Investor Funds (unlisted) – Charter Hall Direct Property provides investors with a number of unlisted property funds that invest in a diverse range of assets. Investors can choose from a single asset trust, diversified fund or invest in a sector specific multiple asset portfolio – all aiming to provide regular, tax deferred income with the potential for capital growth.

• Wholesale Investor Funds (unlisted) – As one of the largest managers of Opportunistic and Core Plus property funds in Australia, Charter Hall’s wholesale funds deliver exposure to a diversified portfolio of quality assets and development opportunities for many of Australia’s largest superannuation funds.

2 | Charter hall InvESTOR FOCUS

Charter Hall Office REIT

Charter Hall Office REIT (ASX:CQO) is a leading owner of office property with a portfolio that comprises high grade office buildings predominantly located in major business districts across Australia and the United States.

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Adrian Taylor
CeO – Charter hall
Office REIT
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Charter Hall Office REIT announced a distribution of 11.0 cents per unit for the half year ending 30 June 2011, bringing total distributions for the year to 30 June 2011 to 20.25 cents per unit. The increased distribution reflects the stronger earnings delivered by the REIT and is a clear demonstration of our ability to deliver sustained strong results for all unitholders.

United States strategy

Proactive portfolio management

The sale of our US portfolio, which is being managed by the Bank of America Merrill Lynch (‘BoAML’), continues to progress well. After receiving strong initial interest for both the entire and parts of the portfolio, on 30 May we announced our intention to sell the whole of the US portfolio.

The REIT delivered strong operational results for the quarter, with the portfolio reporting healthy tenant demand across all markets. Leases were agreed on over 81,000 square metres of the portfolio to 31 March 2011 from both new and existing tenants.

The Sydney market in particular saw strong demand with the Royal Bank of Canada expanding its one floor sublease tenancy at 2 Park Street to a new two floor direct lease on a 10 year term, commencing on 1 July 2011.

The US asset sales are intended to create value for all unitholders by increasing the REIT’s exposure to the stronger Australian market and in doing so improving earnings quality which is intended to reduce the discount between unit price and net tangible asset (nTA) per unit. A shortlist of parties are now conducting detailed due dilligence with formal bids due early July. We anticipate having binding purchase and sale agreements for the portfolio during the September quarter 2011.

Positive leasing activity across the United States (US) portfolio has continued to strengthen this portfolio for sale, positioning it well for impending sale negotiations.

New Independent Chairman - Roger Davis

We have also announced we are investigating a range of capital management initiatives for the net proceeds from the US sale with the current intention being the payment of a return of capital via a pro-rata special distribution to all unitholders.

We are pleased to announce Roger Davis has been appointed Independent Chairman of the Board of Charter Hall Office Management Limited (CHOML). Mr Davis replaces David Harrison who will remain on the Board as an Executive Director.

Outlook

Mr Davis has served as an Independent Director on the CHOML Board for over seven years and will continue to contribute his strong banking and corporate finance experience.

Proactive capital management

The REIT has continued its active approach to capital management, announcing it has agreed terms for a three year $290 million back stop facility, subject to final documentation, that is available to refinance its Australian CMBS facility which matures in September 2011. The facility provides the REIT with the flexibility to pursue a new securitised debt market issuance to potentially further reduce the REIT’s cost of debt. Since 1 July 2010, the REIT has agreed terms or resolved circa $1.3 billion of debt, extending the average debt maturity to 3.2 years.

We remain focused on the active management of our portfolio, improving occupancy and net operating income growth from our high quality portfolio in order to deliver sustainable returns for all our investors.

With continued improvement in economic conditions and property fundamentals across the Australian market we are confident Charter Hall Office REIT is well positioned to capitalise on the return to growth in this market.

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Office ReiT as aT 31 MaRch 2011 aU Us
number of properties 19 14
Occupancy 95% 82%
Weighted average lease expiry (WALE) 4.1 years 5.7 years
Unit price as at 1 June 2011 $3.57
net tangible asset (nTA) per unit as at 31 December 2010 $3.96
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ISSUE 3, JUnE 2011 | 3

Charter Hall Retail REIT

Charter Hall Retail REIT (ASX:CQR) invests in well located, grocery anchored neighbourhood and sub-regional shopping centres.

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Steven Sewell
CeO – Charter hall
retail reIt
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We announced a distribution of 12.8 cents per unit for the six months to June 2011, representing a 7% increase on the distributions for the previous half year period. The total distribution for FY11 will equal 24.8 cents per unit.

Operational update to 31 March 2011

In addition, we have completed or contracted on the sale of nine low value, non-core retail properties in the United States and Australia for a total consideration of A$57.5 million.

High occupancy, solid rental and income growth and robust leasing activity across markets have driven a strong start to the year for Charter Hall Retail REIT. Across the Australian portfolio a total of 36 renewal and new lease transactions were completed, resulting in a strong average rental rate growth of 10.0%. Occupancy remained solid at 98.7% and same property net operating income (nOI) growth of 3.7% was ahead of expectations.

We achieved a number of capital management initiatives during the quarter including securing a conditional funding commitment from one of Australia’s largest superannuation fund managers, Unisuper, to refinance the REIT’s Australian commercial mortgaged backed security facility 12 months ahead of its maturity in September 2012. The key highlight of the $250 million facility is a margin reduction to 1.80%. This will deliver significant cost savings for the REIT.

The European portfolio continued to perform well with occupancy at

98.3% and same property nOI growth of 1.8%.

Outlook

New Independent Chairman – John Harkness

Given the strength of the balance sheet and available liquidity, we will continue to employ initiatives to provide long term and sustainable income and capital growth for investors.

In May, our Independent Director, John Harkness was appointed Independent Chairman of the Charter Hall Retail Management Limited (CHRML) Board, replacing David Southon who will remain on the Board as an Executive Director.

These include continuing the buy-back of our units where it benefits the REIT’s investors through accretion on both earnings and net asset backing per unit; actively seeking to redevelop our core shopping centre portfolio; and selectively looking to acquire quality Australian supermarket anchored shopping centres. We will continue to review our existing portfolio, particularly the lower value assets, where we can recycle this capital back onto the balance sheet.

Mr Harkness has served as an Independent Director on the CHRML Board for over seven years and will continue to contribute strong board and finance experience to the REIT.

Reweighting to Australia

Last month we executed a contract to acquire eight neighbourhood and sub-regional shopping centres in Australia from Woolworths Limited in partnership with Telstra Super for $266 million. This portfolio is an excellent fit for the REIT with the properties being well leased Woolworths anchored shopping centres, the majority in Sydney suburban locations. The portfolio fundamentals are solid with occupancy at 97.6%, a weighted average lease expiry (WALE) of 15.8 years and average annual rent reviews of 4.3% for the 189 speciality tenancies.

For the 2011 financial year, the total distribution will equal 24.8 cents per unit. This represents a distribution yield of 7.4% on the current unit price[1] .

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ReTail ReiT as aT 31 MaRch 2011 – cORe pORTfOliO [2]
number of properties 77
Occupancy 98.5%
Anchor WALE 10.6 years
Unit price as at 1 June 2011 $3.37
net tangible asset (nTA) per unit as at 31 December 2010 $3.51
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The acquisition is forecast to be accretive to the REIT’s year one earnings and substantially increases its Australian anchor tenant WALE from 9.2 to 11.1 years. The acquisition settled on 8 June 2011.

We have completed the sale of the majority of the new Zealand portfolio in April 2011 and the Desco/Regency portfolio in May 2011. In total, these transactions have released A$127.1 million in net proceeds.

1. Unit price as at 1 June 2011

2. Adjusted to include the Woolworths portfolio of 8 properties, acquired in June 2011

4 | Charter hall InvESTOR FOCUS

Charter Hall Direct Property

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Charter Hall Direct Property manages a diverse suite of unlisted property funds for retail investors providing access to institutional grade property with quality tenants and long weighted average lease expiries in the office, retail and industrial sectors.

Continuing signs of renewed confidence in the property sector are pointing to a positive performance for Charter Hall’s suite of direct funds through the medium term. Currently there are four funds open for investment – the Direct Property Fund, Direct Industrial Fund, Direct Retail Fund and the Property Securities Fund.

Richard Stacker CeO – Charter hall Direct Property

Charter Hall Direct Property Fund (CHDPF)

CHDPF provides quarterly, tax effective income to investors. The Fund’s portfolio comprises high quality office assets, having successfully reweighted its portfolio to Australia delivering strong operational and leasing performance.

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|chDpf as aT 31 MaRch 2011|
|Fund size|$498 million|
|Total return (previous 12 months)|6.4%|
|Weighted average lease (WALE)|4.4 years|
|Portfolio occupancy|95%|

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Strong portfolio management performance

CHDPF’s asset management team achieved leasing or signed Heads of Agreement (HOA) on almost 6,000sqm of the portfolio in the previous six months. This included multiple leases at 68 Pitt Street, Sydney which benefited from a refurbishment in 2009/2010. Some 440sqm of retail and office space was leased to international financial conglomerate Citibank on a 10 year term, achieving rents well above the previous leases to AnZ. nIB Health Insurance committed to a 15 year lease over 928sqm.

Lonsec rated

The independent research house Lonsec rated the Fund “Recommended Upper End” during the quarter. In its review of CHDPF, Lonsec noted that the portfolio’s assets have benefited from significant refurbishment and repositioning initiatives, attracting quality tenants and lifting rents. The report also makes reference to the office sector’s prospects for rental and capital growth.

Outlook

CHDPF will continue to actively manage assets to drive income and value, and is well placed to increase portfolio occupancy and generate rental growth over the medium term. The manager intends to provide a limited withdrawal facility every six months, with a major liquidity event in December 2014.

Diversified Property Fund (DPF)

DPF invests in quality assets across the office and industrial sectors in Australia with 3.6% average annual rental increases across the portfolio. Approximately 90% of the Fund’s net income is generated from national, international and Government tenants.

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|Dpf as aT 31 MaRch 2011|
|Fund size|$169.8 million|
|Total return (previous 12 months)|7.9%|
|Weighted average lease expiry|(WALE)|7.2 years|
|Portfolio occupancy|96%|

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The portfolio has nine assets with 100% occupancy and active leasing campaigns continue over the vacant space in 53 Berry Street, north Sydney and 181 St Georges Terrace, Perth.

Sale of Coles Distribution Centre

A resolution to sell the Fund’s interest in the Coles Distribution Centre, Perth Airport was unanimously approved at a meeting of unitholders in May 2011.

Outlook

Management will continue to actively manage DPF through lease extensions, renewals and potential rental uplifts. A fund review event is scheduled for October 2012

The Lonsec Limited (“Lonsec”) ABn 56 061 751 102 rating for the CHDPF (assigned April 2011) presented in this document is limited to “General Advice” and based solely on consideration of the investment merits of the financial product(s). It is not a recommendation to purchase, sell or hold the relevant product(s), and you should seek independent financial advice before investing in this product(s). The rating is subject to change without notice and Lonsec assumes no obligation to update this document following publication. Lonsec receives a fee from the fund manager for rating the product(s) using comprehensive and objective criteria.

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ISSUE 3, JUnE 2011 | 5

Charter Hall Direct Property

No.1 Martin Place Trust (1MPT)

The Trust retains a 50% interest in the prime office tower and carpark located at no.1 Martin Place, Sydney.

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|1MpT as aT 31 MaRch 2011|
|Fund size|$233 million|
|Total return since inception (p.a.)|7.8%|
|Portfolio occupancy|93%|
|Weighted average lease expiry|(WALE)|4.0 years|

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1MPT refinanced its debt with a new loan provider on more favourable terms in October 2010, maintaining a conservative gearing position of 33.0%.

Outlook

Management will continue to work towards entering into lease agreements for the current vacancy and determine what Macquarie Banks intentions are past their lease expiry in December 2014. With investment demand increasing and the potential growth in capital values, the Manager will look to exit investors in the medium term to maximise investor returns.

Charter Hall Umbrella Fund (CHUF)

CHUF provides a unique opportunity to invest across a suite of Charter Hall wholesale property funds in office, industrial and retail markets. The Fund has exposure to a portfolio of 55 assets that benefit from long leases and high quality multinational and international tenants including Wesfarmers, Telstra, Westpac Bank, Woolworths, volkswagen, BHP Billiton and government tenants.

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|chUf as aT 31 MaRch 2011|
|Fund size|$154 million|
|Total return (previous 12 months)|3.5%|
|Portfolio occupancy|95%|
|Weighted average lease expiry|(WALE)|8.6 years|

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Outlook

Charter Hall is of the opinion that valuations have generally bottomed, and the Fund’s investments should see capital growth over the medium term slightly offset by ongoing amortisation of capitalised fund establishment costs. Income distributions are expected to increase from 2011. The Manager will continue to implement strategies to re-weight the portfolio to the listed A-REIT sector. This may provide an opportunity for CHUF to open to withdrawal offers in 2011. The Fund retains significant longer term major liquidity events, within its underlying investments, occurring from 2012 through to 2014.

130 Stirling Street Trust (CHIF7)

130 Stirling Street Trust is a single asset trust investing in a brand new high quality A-grade office building in the growth corridor of the Perth CBD fringe. This environmentally efficient building has a 4 Star Green Star – Office Designv2 rating and a 5 Star nABERS Energy rating.

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|chif7 as aT 31 MaRch 2011|
|Fund size|$71.6 million|
|Average annual rental increases|4.3%|
|Weighted average lease expiry|(WALE)|8.2 years|
|Portfolio occupancy|100%|

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The property is underpinned by 10 year leases to anchor tenants Commonwealth Government (Medicare) and WA Police and nurses Credit Society. Downer EDI has signed a HOA to lease for 1,328sqm over a five year term over the majority of the space currently leased by the Core Plus Office Fund.

Distribution forecast upgraded

The Trust increased distributions from 8.3 cents per unit in CY2010 to 9.0 cents per unit in CY2011.

Equity raising oversubscribed

The Trust is now closed to new investment, surpassing its equity raising target of $40.6 million. The Trust provides investors an attractive yield and strong potential for capital growth.

Direct Industrial Fund (DIF) - Open for investment

The Fund provides access to a portfolio of new institutional grade industrial assets in new South Wales, victoria and Queensland.

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|Dif as aT 31 MaRch 2011|
|Fund size (upon completion)|$70 million|
|Portfolio occupancy|100%|
|Weighted average lease expiry|(WALE)|13.7 years|

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Portfolio update

DIF’s mandate was strengthened by a fourth asset, with Management completing the first stage of its $42.9 million purchase of the Coles Distribution Centre at Perth Airport, Western Australia. This 82,000 square metre logistic facility is situated on a 25-hectare industrial site and is 100% occupied by Coles Group.

Outlook

Management will look to build on the current portfolio, confident of the growth and diversification prospects for the Fund through its access to a quality investment pipeline. DIF is well positioned to provide investors with growing tax-advantaged income.

6 | Charter hall InvESTOR FOCUS

Investment Opportunities

units for early investors Bonu ~~s~~ new investment opportunity Direct Retail Fund

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Charter Hall is pleased to introduce the new Direct Retail Fund (DRF), which provides investors access to an established portfolio of high quality shopping centres with a focus on long leases to household names.

• 8.0 cents per unit target annual distribution for the three years to 31 December 2013

• $177 million initial portfolio value comprising six quality shopping centres with 99% portfolio occupancy and 7.1 years WALE

• 100 tenants including Coles, Woolworths and Bunnings Warehouse

Bonus units are offered to early investors that cornerstone the first $25 million into DRF by 30 September 2011.

• Bonus 2% additional units

• Higher initial nTA, higher yield through fund life and higher IRR (total return) on amounts invested

Suitable for SMSFs, IDPS and direct investors with a minimum investment of $10,000. For information on investing in DRF contact your financial adviser, call us on: 1300 652 790 or visit charterhall.com.au/drf

Incom ~~e~~

focused

investment opportunity

Direct Industrial Fund

Charter Hall’s Direct Industrial Fund (DIF) presents investors with an income focused, low risk investment opportunity. The Fund has a current portfolio of three new institutional grade assets of $70 million (upon completion) and a pipeline of further acquisition opportunities.

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• Average fixed rental increases 3.4% pa

• Weighted average lease expiry 13.7 years

• Occupancy 100%

Charter Hall believes the outlook for the industrial property market is strong, with an improved outlook in the domestic economy and strong industrial property fundamentals. The Australian industrial markets strong performance of 2011 featured increased demand, rents firming and a lack of available prime grade stock. DiF provides investors

• 8 cents per unit average target distributions for initial two years

• Potential for capital growth by acquiring and actively managing a diversified industrial property portfolio

DIF has currently raised circa $50 million in equity, and has identified a fourth potential asset to add to the property portfolio. DIF will close to investment once $110 million in equity is raised or at 30 June 2012.

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For information on investing in DIF contact your financial adviser, call us on: 1300 652 790 or visit charterhall.com.au/dif

ISSUE 3, JUnE 2011 | 7

investment Residentia ~~l~~ opportunity

As a valued investor with Charter Hall, you may be aware that we are currently developing a number of exciting residential housing and apartment projects in Sydney and Melbourne.

As a market leader in the delivery of quality and sustainable developments, and with an established track record in the development of high quality office, residential, retail and industrial developments, Charter Hall has completed in excess of $3.5 billion of projects.

A limited opportunity exists to purchase a variety of off-the-plan townhouses and apartments in our Aquilo townhouse and Lacrosse apartment projects in Melbourne, in proven strong capital growth areas.

Significant stamp duty savings apply to off-the-plan purchases on these two residential projects.

In addition, we are pleased to offer you an opportunity to be amongst the first to register your interest in our Little Bay Cove master planned community in Sydney, which will set a new benchmark in architectural design and sustainable living for coastal communities in Australia.

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REGISTER NOW  LITTLEBAYCOVE.COM.AU  1300 2036 2036

Little Bay Cove, Little Bay NSW

With the beach on your doorstep and the city still in your sights, discover the secrets of Sydney’s new coastal living community at idyllic Little Bay.

Located on the eastern suburbs peninsula, Little Bay Cove will feature breathtaking ocean views, surrounded by open parkland and a tranquil lake, a stunning secluded beach, golf courses and is close to quality schools, cafes and shopping centres – all only 14km from Sydney’s bustling CBD.

This 13.6 hectare estate will comprise approximately 570 dwellings, with a mix of apartments and courtyard homes, as well as exclusive vacant land allotments.

As one of Sydney’s last remaining master planned coastal communities, this $600 million estate will have a key focus on design, quality and sustainability, with many energy and water conservation initiatives.

A variety of critically acclaimed architects, including Smart Design Studio, Tony Caro Architecture, Fox Johnston and SJB Architects, have been appointed to design the first release of lots which will be available to market in October 2011.

Little Bay Cove will set a new benchmark in architectural design and sustainability for coastal communities in Australia.

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8 | Charter haLL InveSTOr fOCuS

98% SOLD  ONLY 6 AVAILABLE  CALL (03) 9940 7222

Situated just 200m from the victoria Harbour waterfront in the heart of Docklands, Lacrosse is located in the most desirable new neighbourhood in Melbourne.

Lacrosse Stage 1 comprises 312 apartments that have been designed for contemporary comfort, with each apartment featuring light filled spaces with clean lines and quality finishes.

At the heart of the Lacrosse community, a grand glass-covered plaza offers residents an array of retail stores and services that cater for the requirements of a modern urban lifestyle. The plaza provides a link to La Trobe Street and the etihad Stadium concourse, affording easy pedestrian access to Southern Cross Station.

for a convenient lifestyle option with the luxury of harbourside living, enjoy an unrivalled location at an affordable price, from $435,000 for a 1 bedroom, 1 bathroom, 50sqm apartment.

Lacrosse, Docklands Vic

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visit lacrossedocklands.com.au

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85% SOLD  ONLY 18 AVAILABLE

aquilo, Mentone Vic

Located in the sought-after Melbourne bayside suburb of Mentone, Aquilo offers all the amenity of an established suburb with the attraction of brand new contemporary living.

Situated just two kilometres from iconic Mentone Beach, Aquilo comprises 119 two storey architecturally designed luxury townhouses, priced from $650,000 for a 3 bedroom, 2.5 bathroom, 200sqm home.

Each park front home presents quality finishes, including high ceilings, generous living areas, timber floors, stone bench tops, european appliances and a 5 Star energy rating.

To register your interest in the limited collection of ‘Park Front Homes’ visit aquilo.net.au or call 1300 455 509

With 85% of townhouses sold to date, Aquilo presents a rare opportunity to purchase into a desirable community in close proximity to Mentone village, with quality amenity and easy access to public transport and the beach.

Construction has commenced, with the first houses due for completion in the third quarter of 2011.

visit our display suite, at Oak Avenue, Mentone . Open 11am to 2pm daily or by appointment.

ISSue 3, June 2011 | 9

Investment Opportunities

your investment portfolio Balanc ~~e~~ with a core holding in A-REITs Property Securities Fund

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Charter Hall’s Property Securities Fund (CHPSF) is a high conviction true to label active investment style property securities fund. CHPSF provides a liquid, diversified exposure to high quality listed Australian office, retail and industrial property assets in one efficient investment structure.

Key features:

• Pricing is currently at material discounts to net tangible assets (nTA) and intrinsic value and nTA backing is robust

• A-REITs substantially de-risked compared to Global REITs

• CHPSF will only invest in those securities which offer the most compelling potential risk adjusted return

The Investment Manager of CHPSF is Reliance Investment Management, a client focused firm specialising in REIT analysis and investment. The Reliance advantage stems from the experience and passion of its people, the insight of its process and the core focus and alignment of its business with its clients.

For information on investing in CHPSF contact your financial adviser, call us on: 1300 652 790 or visit charterhall.com.au/chpsf

Contact us

Should you have any questions about your investment, please contact Charter Hall Investor Relations:

Website Phone charterhall.com.au 1300 365 585

Email reits@charterhall.com.au

To access information on your holding or to change your details contact the relevant registry.

Charter Hall Limited ABN 57 113 531 150 Charter Hall Funds Management Limited ABN 31 082 991 786

Disclaimer

This newsletter has been prepared by the various responsible entities and trustees, as the case may be, of each of the schemes or trusts referred to herein.

Units in Charter Hall Direct Industrial Fund, Charter Hall Direct Property Fund, Charter Hall Direct Retail Fund and Charter Hall Property Securities Fund are or will be issued by Charter Hall Direct Property Management Limited (formerly Macquarie Direct Property Management Limited) ABn 56 073 623 784; AFSL 226849 (‘CHDPML’). Units in Charter Hall Umbrella Fund, are issued by Charter Hall Funds Management Limited ABn 31 082 991 786; AFSL 262861 (‘CHFML’). To obtain a copy of the PDS for any of the funds or for any other enquires, call CHDPML or CHFML on 1300 652 790 (local call cost). Potential investors should consider the relevant PDS when deciding whether to invest in any of these funds. An investment in any of the funds involves a degree of risk. Each recipient is considered to have read and understood the section titled ‘Risks’ in the respective PDS and to have satisfied itself fully as to the acceptability or otherwise of the risks outlined in that section and any other risks relevant to an investment in units in the Fund.

This release is not an offer to sell or a solicitation of an offer to subscribe or purchase or a recommendation of any securities referred to herein. This information has been prepared for information purposes only. The information herein has not taken into account any potential investors’ personal objectives, financial situation or needs. Before investing, you should consider your own objectives, financial situation and needs or you should obtain financial, legal and/or taxation advice.

neither Charter Hall Group, CHDPML, CHFML, Charter Hall Office Management Limited ABn 75 006 765 206, AFSL 247075 (‘CHOML’); and Charter Hall Retail Management Limited ABn 46 069 709 468, AFSL 246996 (‘CHRML’) their related bodies corporate, directors, employees nor any other person who may be taken to have been involved in the preparation of this flyer represents or warrants that the information contained in this flyer, provided either orally or in writing to a recipient in the course of its evaluation of the Fund or the matters contained in this flyer, is accurate or complete. Historical performance is not a reliable indicator of future performance.

CHDPML, CHFML, CHOML, and CHRML do not receive fees in respect of the general financial product advice they may provide, however they will receive fees for operating each of their respective funds, in accordance with the Constitutions, are calculated by reference to the value of the assets of each of the funds. Entities within the Charter Hall Group may also receive fees for managing the assets of, and providing resources to the funds. For more detail on fees, see our latest annual report. To contact us, call 1300 365 585 (local call cost). All information contained in this newsletter is at 31 March 2011 unless otherwise stated.

© Charter Hall Group 2011.

Residential investment opportunity disclaimer: 1.The photography and images in this brochure are indicative only. 2. The final installed materials may vary from photography and images contained herein. 3. Changes may be made during the development, and dimensions, fittings, finishes and specifications are subject to change without notice. 4. The information contained herein is believed to be correct but is not guaranteed. 5. The information supplied on available real estate is correct at time of printing. 6. Prospective purchasers must rely on their own enquiries.

This newsletter was printed on environmentally friendly stock (55% recycled and 45% oxygen bleached pulp) using vegetable based inks.

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