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.