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Charter Hall Retail REIT Sells 2 Centres

November 9, 2018

Charter Hall Retail REIT has sold 2 regional assets from their portfolio for $76.1M at a slight discount to book value (-$1m).

 

The REIT bought Coomera Square for $59.2 million in July 2014 and this week sold it to a syndicator for approx $58.9M, representing a 6% yield. The Centre is a 9,115sqm neighbourhood centre anchored by a Woolworths Supermarket. 

 

The second asset was a stand alone Woolworths and Petrol Plus in Young, NSW. The Centre was acquired by Melbourne-based investor, Gerry Angelatos of Dome Property Development Group for approximately $17.1M, reflecting a 6.8% yield. 

 

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