CFS RETAIL PROPERTY TRUST 1 
By Colonial First State Property Retail Pty Limited
ABN 19 101 384 294
Manager of CFS Retail Property Trust Group20 January 2014
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
Principal Office of the Manager: Level 4, Tower 1, 201 Sussex Street Sydney NSW 2000 Australia
Telephone: 02 9303 3500
Facsimile: 02 9303 3622
CFS RETAIL PROPERTY TRUST GROUP (CFX) Retail sales for the 12 months to 31 December 2013
Colonial First State Property Retail Pty Limited, Manager of CFS Retail Property Trust Group (CFX), today releases CFX's headline retail sales statistics to 31 December 2013 from its portfolio of 28 Australian shopping centres and DFO retail outlet centres.
Mr Michael Gorman, Fund Manager of CFX, said: "Underlying drivers for retail expenditure in the Australian economy, on balance, remained stable during the period. Positive wages growth and consumer sentiment, coupled with rising wealth effects from growth in house prices and the Australian stock market, have been tempered by factors such as weaker employment growth and rising petrol prices."
"For CFX, this has resulted in comparable specialty store sales across our portfolio continuing to show modest growth. Specialty store moving annual turnover (MAT) growth for the 12 months to 31 December 2013 was
1.7%, down slightly from 1.8% to 30 September 2013."
Total retail MAT for the 12 months to 31 December 2013 is outlined below:
Comparable1 Actual | ||
Category | MAT MAT 31-Dec-13 growth ($m) (%) | MAT MAT 31-Dec-13 growth ($m) (%) |
Department stores Discount department stores Supermarkets Mini majors Retail specialty Other retail2 | 640.7 (1.7) 662.7 (0.8) 1,337.3 4.1 695.0 0.8 2,620.0 1.7 434.2 (1.2) | 649.6 (1.4) 727.4 (1.5) 1,657.7 7.5 758.3 0.8 2,803.9 2.1 497.2 (1.3) |
Shopping centre portfolio | 6,389.9 1.3 | 7,094.1 2.2 |
DFO retail outlet centres | 447.5 10.2 | 585.3 3.6 |
Total portfolio | 6,837.4 1.8 | 7,679.4 2.3 |
"While the department store and discount department store categories continue to lag overall growth, the DFO centres continue to deliver exceptional performance in a challenging environment. The success of the remixing activity in the comparable DFO portfolio is especially pleasing and bodes well for the revitalised DFO Homebush which is approaching development completion," concluded Mr Gorman.
A more in-depth analysis of CFX's portfolio retail sales performance will be released in the December 2013 interim results announcement on 18 February 2014.
1 Comparable centres refer to those centres that are not undergoing or have not undergone substantial redevelopment in either period of comparison. Bayside Shopping Centre, VIC, is included as a comparable centre in this period as it has been 24 months since the completion of its redevelopment. Altona Gate Shopping Centre, VIC, has been removed from the comparable basket this period due to reconfiguration works that have commenced.
2 Other retail includes cinemas and sales-reporting tenancies under 400 sqm including travel agents, auto accessories, Lotto and other entertainment and non-retail stores.
For further information please contact:
Michael Gorman Angus McNaughton
Fund Manager Managing Director, Property
CFS Retail Property Trust Group Colonial First State Global Asset Management
Phone: +61 2 9303 3448 Phone: +61 2 9303 3765
Email: mgorman@colonialfirststate.com.auEmail: amcnaughton@colonialfirststate.com.au
Penny Berger Troy Dahms
Head of Investor Relations and Communications Investor Relations and Communications Manager
Colonial First State Global Asset Management Colonial First State Global Asset Management
Phone: +61 2 9303 3516 or +61 402 079 955 Phone: +61 2 9303 3491 or +61 412 055 996
Email: pberger@colonialfirststate.com.auEmail: tdahms@colonialfirstate.com.au
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 on behalf of more than 17,000
investors from 22 countries, comprising a portfolio of 28 retail assets with an estimated total asset value of
$8.7 billion at 31 December 2013. For more information visit cfsgam.com.au/cfx
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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