Convenience retail landlord Charter Hall Retail REIT upgraded its full-year earnings and distribution guidance after weathering lockdowns and delivering a better-than-expected half-year performance, and as it prepares for a bump up in rental growth due to rising inflation.

More than half of the income growth from the property trust’s $3.7 billion portfolio of neighbourhood malls, sub-regional shopping centres and petrol stations comes from annual rent increases directly or indirectly linked to inflation.