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Charter Hall Retail REIT Announces Acquisition of Interest in 2 Sydney Metro Retail Centres

18 Sep 2019  |  12:04:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Acquisition of interest in 2 Sydney metro retail centres

Charter Hall Retail Management, as responsible entity of Charter Hall Retail REIT announced on 18 September 2019 that it has agreed to acquire a 20% interest in a $281m portfolio comprising two Sydney metropolitan shopping centres anchored by Woolworths, Coles, Aldi and Kmart. This portfolio is currently owned by the Charter Hall Retail Partnership No. 6 Trust (RP6), which was formed 5 years ago and comprises two well established and strong trading Sydney metropolitan convenience-plus shopping centres, being Pacific Square, Maroubra ($189m) and Bass Hill Plaza ($92m). Post this acquisition, the REIT tightens the range of its operating earnings per unit growth guidance from 1.5% - 2.0% to 1.7% - 2.0% for FY20 over FY19.

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