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Charter Hall Retail sells two Australian properties for A$71.8M


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Charter Hall Retail sells two Australian properties for A$71.8M

Charter Hall Retail REIT sold two properties in the Australian suburb of Thornleigh in New South Wales and in Sydney's Earlwood for an aggregate amount of A$71.8 million to undisclosed buyers.

The greater of the two deals was for the Thornleigh Marketplace, which has a A$43.1 million price tag, reflecting a 5.3% passing yield and a 3% premium to its Dec. 31, 2017, book value. The asset forms part of the Charter Hall Group-managed RP1 Fund and it will change hands in June.

Woolworths anchors the mall that is also home to Dan Murphy's, Australia Post, Michel's Patisserie and Brumby's Bakery.

Separately, Charter Hall divested a Coles-anchored freestanding center at an auction by CBRE for A$28.7 million, marking a 4.2% passing yield and a 24% premium to book value.

The shopping center landlord also highlighted the contracted sales of A$32.2 million of assets that are expected to close before June 30.