Charter Hall : expands its convenience retail portfolio with $216 million of acquisitions

About this update from Charter Hall Group

Charter Hall has expanded its convenience retail platform through three acquisitions valued at $216.7 million, strengthening its presence across key growth markets in Queensland and South Australia. The acquisitions have been completed through the Charter Hall Convenience Retail Fund (CCRF) and include the $136.7 million purchase of Pavilions Palm Beach and Yeerongpilly Green Riverside Village in Queensland, together with the recent acquisition of Bunnings Prospect and Churchill Centre South in Adelaide for $80 million. Pavilions Palm Beach is a Coles-anchored neighbourhood shopping centre on the southern Gold Coast, while Yeerongpilly Green Riverside Village is a Woolworths-anchored centre located within Brisbane's Yeerongpilly Green mixed-use precinct. Together, the centres provide 15,620 square metres of gross lettable area and are underpinned by major supermarket anchors and a complementary mix of convenience-focused retailers. The Bunnings Prospect and Churchill Centre South acquisition adds a strategically located large format retail precinct in metropolitan Adelaide, anchored by Bunnings and supported by a diversified mix of national retailers. The fully leased asset occupies a prominent 5.4-hectare site within Adelaide's established Churchill Road retail corridor. Ben Ellis, CEO Retail for Charter Hall said, "These acquisitions continue our focus on growing CCRF and the Charter Hall managed platform into Australia's largest owner of convenience-based shopping centres." The Queensland acquisitions are scheduled to settle on 30 September 2026. The portfolio was acquired from Consolidated Properties Group and CVS Lane Partners. Charter Hall Managing Director & Group CEO, David Harrison, said, "We have continued our long-standing relationship with Don O'Rourke's CPG, with more than $500 million of transactions completed together over two decades." The acquisitions further strengthen Charter Hall's portfolio across Australia's growing convenience retail sector, adding high-quality assets supported by non-discretionary spending and strong national tenant covenants.

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