Convenience retail landlord Charter Hall Retail REIT has ended its brief dalliance with the industrial property sector after selling its half-share in a Coles distribution centre in Adelaide for $150 million and reinvesting the proceeds into a portfolio of New Zealand service stations leased to Ampol-owned Z Energy.

CQR, as it is known by its ASX ticker, raised eyebrows two years ago when it snapped up a $111.8 million or 52 per cent stake in the long-leased distribution facility from a Charter Hall partnership between three funds.