Charter Hall Retail acquires 18 Gull service stations in New Zealand

Charter Hall Retail REIT (ASX: CQR) announced that it has expanded its Long WALE Convenience Retail portfolio and increased income from triple net (NNN) leases directly linked to CPI. The Company has acquired a portfolio of 18 Gull service stations in New Zealand. It also expanded its partnership with Ampol Ltd, acquiring a 5% interest in the current Charter Hall partnership that owns a portfolio of 204 Ampol service stations mainly located in metropolitan centres on Australia’s eastern seaboard. The total value of the acquisitions is AU$101.7 million and will be funded from existing investment capacity and are accretive to earnings. Thus, increasing the weighted average rent reviews the CQR portfolio delivers.

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