CHARTER HALL GROUP — Management Reports 2014

Jan 23, 2014

Charter Hall Group

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Investor

Focus

Issue 8, January 2014

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What’s inside
Office 02
Retail 04
Industrial 06
CR&S Report 08
Contact us 08
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Happy New Year to all our investors! We hope you had a relaxing and enjoyable festive season.

It is exciting to be starting a New Year on the back of another strong year for the Group. In 2013 we completed $3.0 billion of transactions across our office, retail and industrial sectors.

Charter Hall Group delivered a strong result on the back of this activity and we are proud to say that Charter Hall Group and Charter Hall Retail REIT (CQR) stand as two of the strongest performing REITs in Australia. As of the end of December 2013, on a total return basis, Charter Hall Group is the number one ranked Australian REIT in the ASX 200 Index over the last three years and CQR is the strongest performing REIT over the last five years. Our wholesale and retail funds have also performed strongly in their sectors during this time.

In 2013, we adjusted our focus to accommodate for a more subdued tenant demand outlook by proactively dealing with impending vacancies, minimising leasing risk across our office portfolios and actively increasing exposure to long leased industrial and non-discretionary retail assets. Notwithstanding the expectation of lower tenant demand, the appetite for property investment improved significantly over 2013. The record low interest rate environment, that was factored in by swap markets 12 months prior has been an important consideration in Charter Hall’s investment strategy over recent years. This reinforced the view that good quality property investments with high yields and secure cash flows represent a compelling investment proposition, particularly relative to other asset classes. Across our platform, we provided investment opportunities incorporating these qualities and experienced a notable uplift in investor demand – particularly among retail syndicates.

Moving into 2014, we expect a moderate recovery in tenant demand with some early positive signs of improving corporate revenues and employer requirements. Debt markets are now pricing interest rates marginally higher by the end of 2014 as a result, however with the strong share market gains over 2013 increasing the net assets of Australian superannuation funds by $287 billion, we expect demand for property investments that provide attractive risk-adjusted returns to remain strong over 2014.

We look forward to another active year delivering on our strategy of accessing, deploying, managing and investing equity across our core real estate sectors of office, retail and industrial, while continuing to create value and generating superior income and capital returns for our clients and Charter Hall securityholders.

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David Harrison David Southon
Joint Managing Director Joint Managing Director
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WorkZone 202 Pier Street, Perth WA

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2 / Investor Focus / Office
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Office 171 Collins Street, Melbourne Vic.

We are one of the largest managers of CBD office properties in Australia, with a $6.2 billion office portfolio.

We manage over 1,050,000sqm of office space accommodating approximately 650 tenants including Telstra, Macquarie Group, Commonwealth Bank, Westpac, BHP Billiton and State and Federal Government departments. We continue to provide smart, long-term accommodation solutions for our tenants while delivering income and capital returns for our investors.

Charter Hall adopts a proactive approach to enhance and maintain the quality, performance and value of all our properties.

Market u date p

Major CBD’s Net Absorption vs Job Advertisements

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Major CBDs Net Absorption Australian Prof Job Ads % Change (RHS)
700,000 40.0%
600,000 30.0%
500,000 20.0%
400,000 10.0%
300,000 0.0%
200,000 10.0%
100,000 20.0%
0 30.0%
‐100,000 40.0%
‐200,000 50.0%
‐300,000 60.0%
Source: JLL, DOE, Charter Hall [1]
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As we highlighted at the end of 2012, the demand and supply fundamentals for office markets were not attractive coming into 2013 and Charter Hall planned to focus on long WALE office assets that mitigate this leasing risk while increasing the broader weighting to the non-discretionary retail and prime industrial sectors. This proved the correct strategy as office markets in 2013 underperformed more than expected, with negative absorption of (242,529)sqm for the major CBD’s making it the worst calendar year result on record according to JLL.

The strong decline in resource-related tenant demand saw Brisbane (106,000)sqm and Perth (84,000)sqm particularly soft, but all markets recorded negative take-up with the exception of Government-led Canberra. This corresponds to a continued level of soft job advertisements for professionals, with monthly Department of Employment figures now 40% below the average since the series commenced in 2006, although there are a number of metrics indicating the worst of the employment downturn has likely passed. Vacancy rates have now risen above 10% in all markets, with Brisbane now at its highest vacancy level on record of 15.5%.

2013 Net Absorption and Vacancy Level by CBD

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12mo Net Absorption (LHS) Vacancy Rate (Dec-13 RHS)
20,000 18%
- 13.9% 15.5% 16%
11.9% 14%
-20,000 11.0% 10.5% 10.8% 12%
-40,000 10%
-60,000 8%
6%
-80,000
4%
-100,000 2%
-120,000 0%
Canberra Melbourne Adelaide Sydney Perth Brisbane
Source: JLL, Charter Hall
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Moving forward Perth and Brisbane should see negligible supply until 2015 and 2016 respectively, at which stage significant tranches of new stock will come online. Sydney and Melbourne will continue to be impacted by new supply throughout the period, although Melbourne is nearing the end of its current cycle (and has the lowest relative level of stock underway among the major capitals) while Sydney will be impacted by the notable addition of International Towers at Barangaroo commencing from 2015.

Against this backdrop, purchaser demand for prime grade assets has been particularly strong and a notable tightening in yields has been evident for assets with minimal leasing risk. With interest rates falling to historic lows, conventional (rent collecting) A-REIT’s typically trading above NTA (thereby transitioning from net sellers to buyers of assets), and Australian super fund assets rising by $287 billion over the year to September there is a significant weight of money chasing quality assets that provide a compelling return over fixed interest asset classes at present.

Note:

1. Job advertisements forward 1 month

Issue 8 / January 2014 / 3

Key business highlights

• We have continued to focus on the active management of our office portfolios over the past six months to achieve an increased total portfolio weighted average lease expiry of 4.9 years. This follows over 20 leasing[1] deals across 30,870sqm[1] of space, a pleasing result for our funds and portfolio.

• Charter Hall’s office funds have continued to perform strongly, with the Core Plus Office Fund (CPOF) in particular outperforming its sector specific benchmark in the IPD/ Mercer Wholesale Unlisted Property Index over the one, two and three year periods to 30 September 2013.

• Across the total office portfolio, our office funds acquired and divested over $800 million of property over the last six months maintaining the Group’s active approach in the sector. This included:

• Charter Hall Office Trust (CHOT) acquiring the remaining 50% interest in the landmark No.1 Martin Place Sydney, taking its ownership to 100%. The acquisition was funded by its $103 million equity raising, which Charter Hall Group contributed a $15 million pro-rata stake. Charter Hall is moving its Sydney head office into the building in March 2013, with full refurbishment of its space currently underway.

• Charter Hall Diversified Property Fund selling 53 Berry Street, North Sydney for $19.75 million, with the net proceeds returned to DPF investors.

• CHIF4 selling its sole remaining asset, the Bushells Building located in Harrington Street, Sydney for a net price of $41 million with $22 million of equity being returned to CHIF4 investors.

• We launched our new unlisted property syndicate at the beginning of December 2013, the Charter Hall Direct WorkZone Trust. WorkZone is a newly constructed A-grade office building, valued at $124.5 million and located on the fringe of the Perth CBD. The property is designed to achieve a 5 star Green Star and 5 star NABERS energy rating. WorkZone has a target average distribution over the initial two year forecast over 9.00% and aims to provide investors with sustainable and stable, tax-advantaged income. Due to unprecedented investor demand WorkZone has now attained commitments in respect of the Total Offer Amount of $72 million. This has been achieved with strong support from direct investors, self managed super funds and their financial advisers. This achievement has been attained well ahead of expectations and demonstrates the overwhelming appetite for quality direct property.

• In December, we were also very pleased to launch Melbourne’s first Premium Grade, 6 star Green Star office building in over 20 years; the $256 million 171 Collins Street development. The building includes 17 large campus-style floor-plates in a side core configured tower, with the lower levels incorporating BHP’s business centre and high-end retail space including a new Andrew McConnell restaurant and luxury fashion retailer Dolce & Gabbana. BHP Billiton, Evans & Partners and Egon Zehnder International have moved into the building with others to soon follow.

Office

8.7% p.a income (target average distribution yield for the trust’s initial two years)

New investment opportunity

Charter Hall will be launching a new investment opportunity soon. Charter Hall Direct VA Trust will be an unlisted property syndicate investing in an A-grade office building located on the fringe of the Brisbane CBD. A Product Disclosure Statement (PDS) for the trust will be available in early February 2014. Applications for units in the trust may only be made under the application form in the PDS. To register your interest and receive a PDS, please contact us on 1300 652 790 .

Key features

• $66 million A-Grade office tower • 100% occupancy

• 12 year lease term to Virgin Australia

• • 3.5% pa annual fixed rental increases

• Sustainable income with the potential for capital growth

• 6 year investment term

• Suitable for self managed super funds

You should contact your financial adviser before making any investment decision.

This information has been prepared by Charter Hall Direct Property Management Limited (CHDPML) (ABN 56 073 623 784, AFSL 226849) without taking account of any particular investor’s objectives, financial situations or needs. The responsible entity of the trust is intended to be CHDPML. CHDPML will be the issuer of units in the trust. A product disclosure statement (PDS) is likely to be made available in or around February 2014. Investors should consider the PDS carefully in determining whether to acquire units in the trust. To the maximum extent permitted by law, CHDPML disclaims all liability for any loss or damage which may arise out of the provision to, or by, or use by, any person of the information set out above. This is not an offer to acquire any units or make any investment in the trust.

Note: 1. As at 30 September 2013

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4 / Investor Focus / Retail
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Retail

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Singleton Square, Singleton NSW
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With a focus on non-discretionary retail, we manage a $2.8 billion Australian retail portfolio. We optimise returns for our investors by providing our centres with end-to-end property services and creating enjoyable environments for the 100 million shopper visitations to our retail assets each year.

These services include all typical real estate services from leasing negotiation through to asset management. We are also always focused on acquisition opportunities to grow our high quality portfolio, as well as enhancing our existing properties through management initiatives and redevelopment projects.

Market u date p

Monthly Australian Clothing Sales ($m)[1]

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1,200
1,150
1,100
1,050
1,000
950
900
850
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Source: ABS, Charter Hall

The low interest rate environment and enhanced sentiment following the federal election saw a clear improvement in consumer demand over 2013, indicating the worst may be past for the ailing discretionary retail sector. Retail trade grew by 2.9% over the rolling year to November 2013 (latest available statistics), however when comparing the month of November 2013 to November 2012 the ABS methodology shows a significantly stronger result of 4.6%. Hardware and Garden retailing (4.4%) as well as Supermarkets (4.1%) continued to outperform on a rolling year basis, reinforcing these categories as Charter Hall’s preferred retail exposures.

While department store sales remain in slightly negative territory, a notable shift was evident over the past year for the discretionary categories of clothing and recreational goods, which looking on a month vs month basis have rebounded very strongly; up 10.5% and 15.9% respectively. This coincides with the falling Australian dollar that declined 15.5% during the year, reducing the attractiveness of online

Real Retail Development Approvals by State ($m)

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8,000 NSW VIC QLD SA WA
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
Source: ABS, Charter Hall
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shopping from international sites — a positive for domestic retailers. But while demand conditions start to improve, the level of supply is also steadily rising with the inflationadjusted level of retail development approvals now 9.4% above the 10 year average.

Despite the improvement in discretionary categories, neighbourhood centres focussed on non-discretionary spending continued to outperform with Investment Property Databank figures for the year to September 2013[2] , showing a total return of 9.6% for the year while regional centres returned 8.1%. The coming year will provide more insight into whether this improved discretionary sales environment has bolstered rental growth in regional centres, or whether rental growth will again be more pronounced among landlords with a lower discretionary weighting.

Note:

1. Retail trade seasonally adjusted 2. Latest available at time of printing

Issue 8 / January 2014 / 5

Key business highlights

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Keperra Square, Keperra Qld
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Secret Harbour Shopping Centre, Secret Harbour WA
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• Charter Hall, in partnership with an institutional investor, acquired the 17,000 sqm Keperra Square in the Brisbane suburb of Keperra for $62.9 million, reflecting a 7.75% capitalisation rate in July 2013. Anchored by Woolworths and Aldi supermarkets, the property is situated on a 65,000sqm corner site with expansion potential. It is held within a newly established unlisted wholesale trust in which Charter Hall holds an initial $22 million investment.

• Charter Hall Retail REIT (CQR) and Charter Hall’s Direct Retail Fund (DRF) sold Home HQ Nunawading for $48 million to a private investor in line with the 30 June 2013 independent valuation.

• In October 2013, CQR settled on the sale of its Polish assets with the net proceeds of $60 million being immediately redeployed to acquire Southgate Plaza in Morphett Vale, South Australia.

CQR also acquired the Secret Harbour Shopping Centre and adjoining vacant land south of Rockingham, Western Australia for $33.2 million in July 2013.

• Strong investor support for non-discretionary retail property was evident when CQR raised $80 million in November through an institutional placement at a price of $3.80 per unit, representing a premium of 14.5% to CQR’s NTA at 30 June 2013. The proceeds were used to partially fund the $100 million acquisition of Rosebud Plaza, a high quality sub-regional shopping centre located in Melbourne’s South.

• During the six months to December 2013, CQR increased its syndicated debt facility limit by $90 million to $475 million for an increased term and reduced cost. CQR also secured a refinance of its Australian joint venture debt facility, extending the term by one year to July 2017 with a significant improvement in margin.

Charter Hall Retail REIT: Investing in our Australian portfolio

Charter Hall Retail REIT (ASX:CQR) offers unitholders exposure to a portfolio of Australian supermarket anchored shopping centres that provide a secure and growing income stream. CQR’s geographically diverse Australian portfolio benefits from exposure to key markets along the eastern seaboard and across a number of growth regions in Western Australia and Queensland.

CQR has had an active six months, acquiring three properties since June 2013 to bring its total Australian portfolio to 77, and commencing two new redevelopment projects.

CQR acquired the 15,844sqm sub-regional shopping, Southgate Plaza in Morphett Vale, South Australia in October 2013. The centre is anchored by a strongly performing Coles and Target and has a weighted average lease expiry of 8.0 years, with its anchor tenants contributing 45% of the centre’s current base rent.

CQR also acquired the 5,574sqm Secret Harbour Shopping Centre and adjoining vacant land south of Rockingham, Western Australia for $33.2 million. The centre is anchored by a strongly performing Woolworths with 16 specialty retailers and a Caltex service station. The property includes an additional 31,000sqm of development land, zoned District Town Centre, providing an opportunity for expansion of the centre.

CQR’s third acquisition was the 24,582sqm Rosebud Plaza in Melbourne’s South, which was partially funded by an

$80 million institutional placement. The sub-regional shopping centre is anchored by Coles, Kmart and Target and has over 60 specialty stores, a freestanding Safeway and a freestanding Kmart Tyre & Auto. Rosebud Plaza is the dominant sub-regional shopping centre in the area.

CQR has completed two Australian redevelopments since 30 June 2013; the $62 million redevelopment of Singleton Square in NSW and the $15 million redevelopment of South Hedland Square in Western Australia. Both centres are trading strongly since completion of the redevelopment works, with occupancy levels of 97% and 99% respectively.

CQR is also looking to commence the redevelopment of Caboolture Square in Queensland in early 2014. The $16 million redevelopment will involve the installation of a new travelator, full mall refurbishment and two new anchor lease deals. CQR’s $38 million redevelopment of Lansell Square has also commenced, with a refurbishment and expansion of the Coles and Safeway supermarkets as well as a net increase in specialty retail of approximately 2,500sqm, bringing the total centre to 22,620sqm on completion.

6 / Investor Focus / Industrial

Industrial

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Australia Post Distribution Centre, Rowille Vic
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We own and manage 48 predominantly long-leased industrial properties comprising 65 high quality tenants including Coles, Woolworths, Toll, Metcash, Schenker, Australia Post and Chevron, that covers approximately 1,261,000sqm in key growth areas around Australia.

The Group industrial portfolio is now valued in excess of $1.5 billion and provides a development pipeline of approximately 260,000sqm with an end value in excess of $350 million. Over the past seven years, we have been actively involved in the ownership and delivery of 22 newly developed assets covering approximately 460,000sqm of floor space and valued in excess of $700 million.

Market u date p

Industrial Supply by City (sqm)

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900,000
Complete Committed
800,000 Complete Available
700,000 U/C Committed
600,000 U/C Available
500,000
400,000
300,000
200,000
100,000
0
Sydney Melbourne Brisbane Perth Adelaide
Source: Charter Hall analysis of JLL data
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Preliminary data suggests that leasing activity across the industrial property sector was slightly less than 2012, according to JLL. Rental levels were broadly flat across the country as the marginally softer demand environment was met with an uptick in supply. Sydney and Melbourne were the only two capitals to post modest aggregate rental growth of 2.0% and 1.7% respectively, while slight falls were evident in Perth and Brisbane with Adelaide remaining stable.

The trend toward leasing activity being dominated by new developments continued throughout the year. Of major leases tracked, over 60% were commitments to new developments while traditional leases of existing stock represented just over 35% of activity. In total 1.18 million sqm of new supply was added to the market in 2013 with just over 1.3 million sqm under construction at present. In relative terms the most active development market appears to be Brisbane, where just under 300,000sqm is presently under construction, with 57,000sqm still available. This equates to almost 1.1sqm of space being added per industrial employee, well above the 0.6sqm/pp national average over 2013. This market looks to remain very

Industrial Yields vs Interest Rates

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Avg Prime Industrial Secondary Industrial 5-yr Bond
12% 3-yr Term Deposit RBA Cash Rate (%) S.M. Cash Rate Fcst
11%
10%
9%
8%
7%
6%
5%
4%
3%
2%
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Source: JLL, RBA, Westpac, Charter Hall

competitive, especially in the southern sector, over 2014. While risk appetite has increased, developers in Sydney, Perth and especially Adelaide look to be reluctant to proceed without tenant commitment with new developments in these cities around 90% committed on average. Melbourne, however, has over 420,000sqm of stock due for completion of which almost 40% is available, so existing assets, particularly in Melbourne’s west, look to face strong completion from new developments during the coming year.

With the declining Australian dollar, growth in internet retailing (while still prolific) has begun to moderate. This trend has been reflected in the revenues of logistics companies, which are still seeing growth notably above the national average, but not at rates seen over recent years. This may be reflected in tenant demand over 2014, and Charter Hall’s funds continue to favour long WALE assets with fixed rental structures in place. In the current low interest rate environment such assets appear highly compelling, which has led to notable yield compression for quality, well-leased industrial assets as we had forecast coming into 2013.

Issue 8 / January 2014 / 7

Key business highlights

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15 Huntingwood Drive, Huntingwood NSW
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15 Long Street, Smithfield NSW Artist Impression
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• Industrial property continues to be a key focus for the Group and we have continued to actively build on our industrial portfolio, acquiring or developing $525 million of industrial assets over the past six months increasing the Group’s industrial portfolio value to in excess of $1.5 billion.

• Following its successful $150 million equity raising, our Core Plus Industrial Fund (CPIF) acquired or developed $160 million of new property increasing the fund size to $710 million including:

• The $23 million industrial park at 11-15 Huntingwood Drive Huntingwood, a core land constrained industrial precinct in Sydney’s western suburbs. The asset comprises two freestanding logistics buildings and is subject to a 10 year lease to Home Timber and Hardware, with the property providing further expansion potential within the site.

• 2 Bannister Road, Canning Vale. CPIF acquired an 83,200sqm modern generic distribution centre on a prime corner site of 16.2 hectares leased to Kmart in the core land constrained precinct of Canning Vale for $70.5 million reflecting an initial yield of 10.85%. The site provides for further expansion potential, the ability to create multiple tenancies with approximately 70% of the investment value comprising underlying land value.

• 180 Holt Street, Pinkenba. CPIF acquired an 18,800sqm generic logistics facility on a site of 6.3 hectares located within Brisbane’s prime Trade Coast Precinct for $25 million reflecting an initial yield of 9.9%. The property is currently leased to Toll, provides for about 10,000sqm of expansion on site and up to 25,000sqm when combined with the funds adjoining land holding.

• Grand Trunkway, Gillman. CPIF acquired a 31,600sqm distribution facility located near the Port of Adelaide and leased to Australian Wool Handlers on a triple net basis. The lease has a further 7.5 years remaining and was acquired for $17.6 million reflecting an initial yield of 8.5%.

• 15 Long Street, Smithfield. The fund reached practical completion on the development of a 16,500sqm distribution centre leased to Northline Logistics for an initial eight year term. The development has an on completion value of $23.5 million, delivered a yield on cost of approximately 9% and forms part of a larger $80 million estate.

• These transactions enhanced CPIF’s weighted average lease expiry from 8.3 years to 8.7 years while achieving an occupancy rate of 100%. CPIF has also continued to outperform its sector specific benchmark in the IPD/ Mercer Wholesale Unlisted Property Index over the one, two and three year periods to 30 September 2013.

• Core Logistics Partnership (CLP) exchanged and settled on the following assets, increasing its fund size to $412 million:

• 2-30 Saintly Drive, Truganina, Victoria. While this property was acquired in June 2013, construction of the second warehouse reached practical completion in August. This increased the GLA to a total of 47,000sqm. This property comprises a new $42.25 million logistics facility purchased on a yield of 8.24%. It has a 10 year lease to Fastline, a five year lease to Encore Tissues and a five year rent guarantee from the developer, Australand, over the balance of the space.

• Lot 61 Diesel Drive, Mackay, Queensland. This property was pre-leased to Blackwoods Pty Limited, a wholly owned subsidiary of Wesfarmers and developed by CIP. The building recently reached practical completion and comprises a $25.75 million facility purchased on an initial yield of 8.5%. The property has a GLA of 14,000sqm and a new 15 year lease to Blackwoods.

• Somerton Logisitics Centre, Victoria. CLP acquired this 129,000sqm generic logistics centre on a site of 21.7 hectares for $121 million on an initial yield of 7.52% assuming fully leased. This is a high quality, modern centre located in the north of Melbourne and comprising 11 tenancies with lessees including Visy, Bluestar, Mainfreight and Mazda.

• 2-29 Frederick Street, Tottenham, Victoria. CLP acquired this 111,000sqm distribution facility on a site of 16.4 hectares for $39.075 million representing an initial yield of 9%. The property is fully leased to Australian Wool Handlers with a further 8.5 years remaining.

• CLP’s portfolio weighted average lease expiry is 9.7 years and its occupancy rate is 93.3% with all properties fully occupied, except Somerton Logistics Centre, which we are currently working to address.

• Our unlisted retail funds also continue to perform strongly. Direct Industrial Fund No.2 (DIF2) successfully completed its equity raising, closing over subscribed at $135 million in equity. This was well ahead of DIF2’s forecast equity raise period. The considerable support from investors demonstrates a clear appetite for DIF2’s quality industrial property portfolio. DIF2’s portfolio grew to six assets with a total portfolio value of $135 million. The assets acquired include OneSteel industrial facilities in New South Wales and Western Australia and new logistics facilities to be built for Toll in Queensland and Grace Worldwide in Sydney both on 12 year leases. DIF2 will invest in further assets that meet the funds investment mandate to a total value of approximately $200 million.

CR&S Report: listening, understanding and acting

We were very proud to deliver our second Corporate Responsibility and Sustainability (CR&S) Report in December 2013 which addresses Charter Hall’s CR&S journey and performance across key indicators for the 2013 financial year. This report builds on the achievements highlighted in our inaugural report and focuses on new initiatives undertaken since that time.

The Report’s theme of listening, understanding and acting reflects the approach we take to CR&S. We recognise that sustainable, long-term success depends on strong relationships with our stakeholders and we are always looking for ways to strengthen these relationships. This year we have continued our focus on four core sustainability areas significant to our business:

• Sustainable business: positioning our business for sustained success

• Our workplace: creating a workplace which supports high performing people

• The environment: reducing our environmental footprint and adding value to our properties

• The community: engaging with communities and helping them to thrive.

We invite you to review our FY13 performance and our priorities for FY14. We welcome your feedback on our report, which can be emailed to sustainability@charterhall.com.au.

One highlight across the year, which is covered in our Report, has been the number of new investment initiatives we have launched last year, with current partners looking to extend their portfolios and new partners choosing to invest with us. This growth is recognition of our expertise, strong track record and ultimately our ability to deliver smart solutions.

We look forward to continuing to share our journey with you and encourage you to read our CR&S Report which is available on our website at www.charterhall.com.au.

Contact us

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

Website www.charterhall.com.au

Email reits@charterhall.com.au

Phone 1300 365 585

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, AFSL 262 861 (CHFML)

Disclaimer:

“While every effort is made to provide accurate and complete information, Charter Hall does not warrant or represent that the information in this brochure is free from errors or omissions or is suitable for your intended use. Subject to any terms implied by law and which cannot be excluded, Charter Hall accepts no responsibility for any loss, damage, cost or expense (whether direct or indirect) incurred by you as a result of any error, omission or misrepresentation in information. Note: All figures are in Australian dollars unless otherwise indicated.”

This newsletter was printed on Revive, an Australian made and 100% recycled paper. It is also FSC Certified and certified carbon neutral.

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