trending Market Intelligence /marketintelligence/en/news-insights/trending/RqGS6IgMB6GueBx1bGGZbg2 content esgSubNav
In This List

Charter Hall Retail REIT to pay A$74M for Melbourne retail asset

Video

S&P Capital IQ Pro | Powering Your Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud


Charter Hall Retail REIT to pay A$74M for Melbourne retail asset

Charter Hall Retail REIT agreed to buy the Campbellfield Plaza retail property in Melbourne's northern suburbs for A$74 million, reflecting a fully let yield of 6.5%

The transaction, which is scheduled to complete in March 2019, reflects the Australian real estate investment trust's strategy of transitioning its portfolio toward larger, convenience-based, supermarket-anchored shopping centers from smaller noncore assets, it said in a release.

The Campbellfield Plaza center, which sits on a 58,600-square-meter site, spans 17,900 square meters and offers long-term redevelopment potential. Kmart, Coles, Aldi and Officeworks anchor the center, along with 19 specialty stores. The property has parking space for more than 800 cars.

Charter Hall said it will fund the transaction using proceeds from the recent sales of the Coomera Square asset in Queensland and a freestanding Woolworths site in the New South Wales town of Young.