Charter Hall Group has announced a significant expansion of its convenience retail portfolio with $200 million in acquisitions over the past four months. The highlight of these acquisitions is the purchase of the Corio Village Shopping Centre in Corio for $146 million from IPG. Located on the outskirts of metropolitan Melbourne, the 33,600sqm centre features major tenants including Coles and Woolworths supermarkets, Kmart, six mini-majors, and 68 specialty stores. This off-market transaction, secured by Charter Hall's transactions team, is expected to deliver accretive returns, reflecting a 7% cap rate and forecast income growth. The acquisition aligns with Charter Hall's strategy to focus on retail convenience centres, which they believe will continue to outperform larger discretionary retail malls.
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