Charter Hall Group has announced its unlisted institutional fund, the Charter Hall Convenience Retail Fund (CCRF), has acquired a portfolio of three high-quality metro-located shopping centers for a combined value of A$360 million ($234 million) at a forecast year one yield of 5.74 percent. CCRF’s growing portfolio now has a total of 35 non-discretionary convenience retail assets, bringing its gross asset value to more than A$3 billion ($1.95 billion), with significant further capacity to expand.
The portfolio comprises three subregional convenience-based assets across the major eastern seaboard metropolitan markets of Sydney, Brisbane and Melbourne, located in the densely populated catchments of Bonnyrigg, Morayfield and Summer Hill, respectively.
The 100 percent occupied portfolio is anchored by strong-performing major tenants including Coles, Woolworths, Aldi, Kmart and Big W.
Each asset benefits from substantial landholdings with low site coverage of appro
