Responsible Entity:
Commonwealth Managed Investments Limited
ABN 33 084 098 180
AFSL 235384
Registered Address:
Ground Floor, Tower 1, 201 Sussex Street
Sydney NSW 2000 Australia
Colonial First State Property Retail Pty Limited
ABN 19 101 384 294
Principal Office of the Manager:
Level 4, Tower 1, 201 Sussex Street
Sydney NSW 2000 Australia
For personal use only
Manager of CFS Retail Property Trust Group
Telephone: 02 9303 3500
Facsimile: 02 9303 3622
13 December 2013
CFS RETAIL PROPERTY TRUST GROUP (CFX)
December 2013 valuations
Colonial First State Property Retail Pty Limited, Manager of CFS Retail Property Trust Group (CFX), today
announced that 16 of CFX’s assets were independently valued over the six-month period to
31 December 2013.
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These valuations resulted in an estimated $15.6 million or 0.4% increase on prior book value.
The valuations in the six-month period to 31 December 2013 comprised:
Property
CFX
ownership
(%)
New
valuation by
ownership
($m)
Variance to
book value by
ownership
($m)
Change
(%)
Prior
capitalisation
rate
(%)
New
capitalisation
rate
(%)
73.9
-3.2
-4.2
8.25
8.25
Altona Gate Shopping Centre, VIC^
100
Castle Plaza Shopping Centre, SA^
100
145.0
-3.4
-2.3
8.00
8.00
Chadstone Shopping Centre, VIC
50
1,675.0
5.8
0.3
5.25
5.25
Corio Shopping Centre, VIC^
100
117.1
-4.4
-3.6
8.00
8.25
DFO Homebush, NSW
100
250.0
26.2
11.7
7.25
6.75
Eastlands Shopping Centre, TAS^
100
161.2
-7.0
-4.2
7.25
7.25
The Entertainment Quarter, NSW
50
31.5
-2.0
-6.0
10.00
10.00
Grand Plaza Shopping Centre, QLD
50
171.7
0.1
0.1
6.75
6.75
Lake Haven Shopping Centre, NSW^
100
251.4
0.4
0.2
7.50
7.50
The Myer Centre Brisbane, QLD^
50
374.0
0.3
0.1
6.50
6.25
Myer Melbourne – department store, VIC
33
114.3
2.8
2.5
6.00
6.00
Northland Shopping Centre, VIC
50
470.5
1.2
0.3
6.25
6.00
Post Office Square, QLD^
100
71.0
-2.2
-3.0
8.00
8.00
Rockingham Shopping Centre, WA
50
268.9
2.4
0.9
6.25
6.25
Runaway Bay Shopping Village, QLD
50
117.9
-1.3
-1.1
7.25
7.25
15 Bowes Street, Woden, ACT^
100
12.6
0.0
0.2
12.00
12.00
4,306.1
15.6
0.4
Total
^ Valuation as at 30 November 2013. All other valuations are as at 31 December 2013.
Michael Gorman, Fund Manager of CFX said: “While we are very pleased with the progress with the
development of DFO Homebush and the value this has created, the retail environment remains challenging
which has been reflected in our generally flat valuations growth.”
Following these valuations, and taking into account the sale of Rosebud Plaza Shopping Centre, the shopping
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centre portfolio weighted average capitalisation rate tightened to 6.38% at 31 December 2013 from 6.43% at
30 June 2013.
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Unaudited estimate and represents CFX’s share of the revalued assets.
CFX’s estimated gross assets were $8.7 billion at 31 December 2013, up from $8.6 billion at 30 June 2013.
This reflects the latest valuation movements and work undertaken on the development pipeline, partially offset
by the sale of Rosebud Plaza. Net Tangible Asset backing (NTA) per stapled security at 31 December 2013 is
expected to remain unchanged from 30 June 2013 at $2.04.
ENDS
For personal use only
For further information, please contact:
Michael Gorman
Fund Manager
CFS Retail Property Trust Group
Phone: +61 2 9303 3448
Email: [email protected]
Angus McNaughton
Managing Director, Property
Colonial First State Global Asset Management
Phone: +61 2 9303 3765
Email: [email protected]
Investor and media contacts:
Penny Berger
Head of Investor Relations and Communications
Colonial First State Global Asset Management
Phone: +61 2 9303 3516 or +61 402 079 955
Email: [email protected]
Troy Dahms
Investor Relations and Communications Manager
Colonial First State Global Asset Management
Phone: +61 2 9303 3491 or +61 412 055 996
Email: [email protected]
About CFS Retail Property Trust Group (CFX)
CFX is a retail sector-specific Australian Real Estate Investment Trust (A-REIT) which invests in high quality
retail assets including super-regional, regional and sub-regional shopping centres and DFO retail outlet
centres across Australia. CFX is managed by entities within CFSGAM Property. For more information visit
cfsgam.com.au/cfx
About CFSGAM Property
CFSGAM Property is the specialist property division of Colonial First State Global Asset Management, and is
one of the largest real estate fund managers in Australia with approximately $15 billion in funds under
management. CFSGAM Property offers a fully integrated real estate investment platform including investment
management, asset management, development management, origination and execution. CFSGAM Property
manages a suite of wholesale investment products, as well as two Australian real estate investment trusts. For
more information visit cfsgam.com.au/property.aspx
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Excluding Myer Melbourne, DFO retail outlet centres and 15 Bowes Street, Woden.
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