Charter Hall Retail sells NSW shopping centre

Company News

Charter Hall Retail REIT (ASX:CQR) has entered into an agreement to sell Windsor Marketplace in New South Wales for $19.6 million. 
 
The real estate investment trust says the sale represents a yield of 7.5 per cent and is a 6.5 per cent premium to the asset’s book value in June. 
 
Windsor Marketplace is described as a neighbourhood shopping centre located about 50 kilometres North West of Sydney’s CBD. 
 
Proceeds of the sale are expected to partially fund the $7.55 million acquisition of the former Brickworks site in Adelaide announced earlier this month.
 
Charter Hall Retail REIT reported a net profit of $85.2 million in the 2014 financial year. 

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?