Coles, ISPT enter property joint venture

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Under the arrangement, Coles will retain a 25 per cent interest in the centres and will continue to manage the centres. ISPT and Coles will also look to place further properties into the joint venture as opportunities arise and Coles will maintain development control over these properties.

Coles finance director Rob Scott said the joint venture would deliver strong benefits to both parties.

“This joint venture with ISPT means Coles has secured a long-term property partner with closely aligned commercial interests,” he said.

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