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CHARTER HALL RETAIL REIT — Interim / Quarterly Report 2012
May 1, 2012
64699_rns_2012-05-01_af866ca0-4755-447e-afa3-152c0042b4b6.pdf
Interim / Quarterly Report
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Charter Hall Retail Management Limited ABN 46 069 709 468 AFS Licence No. 246996 as responsible entity of Charter Hall Retail REIT
ASX/MEDIA ANNOUNCEMENT
CHARTER HALL RETAIL REIT QUARTERLY OPERATIONAL UPDATE
Wednesday, 2 May 2012
Charter Hall Retail REIT (ASX:CQR) (the „REIT‟) today announced an operational update for the quarter ending 31 March 2012.
The REIT‟s Australian portfolio performed strongly, with occupancy at 98.5% and average specialty rental rate growth of 8.3% on new leases and renewals completed over the quarter. This positive result follows the completion of 36 leasing transactions and the acquisition of Lansell Plaza, a sub-regional centre in Bendigo, Victoria.
The Australian portfolio comprises 74 retail centres, consisting of predominantly grocery anchored subregional and neighbourhood shopping centres with a number of freestanding supermarkets located in both regional and metropolitan areas.
Same property net operating income growth for the Australian portfolio for the 12 months to March 2012 was above expectations at 4.3%, driven by the positive leasing transactions and turnover growth.
The REIT‟s Australian specialty tenants delivered strong moving annual turnover (MAT) growth of 3.0% during the period, with a sustainable occupancy cost of 8.4%. Anchor tenant MAT growth for stores in turnover was 4.1% at 31 March 2012, highlighting the non-discretionary retail offering of the REIT‟s tenants.
In Europe the REIT‟s portfolio, which comprises five assets in Poland and two in Germany, recorded occupancy of 97.3% and rental growth of 6.9%, following eight leasing transactions. As previously announced, the REIT intends to exit this market in the short to medium term in line with its strategy of reweighting to Australia.
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The REIT‟s Acting CEO, Scott Dundas, said: “The REIT continues to be well positioned with total portfolio occupancy at 97.7% and strong specialty rental growth on renewal and new lease transactions. This result reinforces the resilience of the Australian portfolio of predominantly supermarket anchored shopping centres.
“The recent acquisitions of the REIT have positively contributed to this result and we will continue to look at further accretive acquisitions to build on the Australian portfolio. Our most recent acquisition, Wanneroo Central Shopping Centre in Perth, settled on 30 April 2012, reflects an initial yield of 8%,” Mr Dundas added.
For further information please contact:
Scott Dundas Philip Schretzmeyer Acting Chief Executive Officer General Manager Finance Charter Hall Retail REIT Charter Hall Retail REIT Tel: +61 2 8295 1009 Tel: +61 2 8295 1023 [email protected] [email protected]
Investor enquiries Media enquiries Kylie Ramsden Rachel Mornington-West Head of Listed Investor Relations Head of Marketing and Communications Charter Hall Charter Hall Tel: +61 2 8295 1016 Tel: +61 2 8908 4093 - [email protected] rachel.mornington [email protected]
About Charter Hall Retail REIT
Charter Hall Retail REIT is a leading listed real estate investment trust with a portfolio of predominantly Australian high quality supermarket anchored neighbourhood and sub-regional shopping centres, with a smaller portfolio of quality shopping centres in Poland and Germany in Europe.
Charter Hall Retail REIT is managed by Charter Hall Group (ASX:CHC), one of Australia‟s leading fully integrated property groups with 20 years‟ experience managing high quality property on behalf of institutional, wholesale and retail clients. Charter Hall has over $10 billion of funds under management across the office, retail, industrial and residential sectors. The Group has offices in Sydney, Melbourne, Brisbane, Adelaide, Perth, Warsaw and Chicago.
The Group‟s success is underpinned by a highly skilled and motivated team with diverse expertise across property sectors and risk-return profiles. Sustainability is a key element of its business approach and by ensuring its actions are commercially sound and make a difference to its people, customers and the environment, Charter Hall can make a positive impact for its investors, the community and the Group. For further information on Charter Hall Group and Charter Hall Retail REIT go to www.charterhall.com.au