Morningstar | Do Not Participate in Unit Purchase Plan as Charter Hall Buys Rockdale Plaza
Charter Hall Retail is an Australian listed property trust, owning predominantly grocery-anchored neighbourhood and subregional shopping centres. The portfolio focus is to own "convenience plus" shopping centres, ideally with supermarkets. The strategy makes sense as a mall with the three major supermarket chains will have a very low risk of a competing supermarket opening nearby. Around 50% of base rental income comes from major supermarket tenants, with the balance from specialty retailers, predominantly selling everyday items. Charter Hall Retail has less exposure to the more volatile discretionary retail category, but its smaller malls provide less leverage to conditions when retail spending is growing strongly.Charter Hall Retail REIT is a real estate investment trust (REIT). The principal activity of the Company is property investment. The Company's segments include Freestanding supermarkets, Neighbourhood shopping centres, Sub-regional shopping centres and REIT operations. The Freestanding supermarkets segment consists of standalone supermarket with no specialty shops. The Neighbourhood shopping centres segment consists of local shopping centers with one supermarket and a gross lettable area (GLA) less than 10,000 square meters. The Sub-regional shopping centres segment consists of medium sized shopping centers typically incorporating over one full line discount department store and a supermarket with total GLA of approximately 40,000 square meters. The REIT operations segment includes all other income and expenses, which are not directly attributable to these shopping centers. The Company's subsidiary, Charter Hall Retail JV Trust, is engaged in the property investment.
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