ISPT acquires balancing 50% interest in Karingal Hub
ISPT has exchanged contracts to acquire Federation Centre’s 50% interest of Karingal Hub, Frankston, Victoria, bringing our ownership to 100%. Settlement is scheduled for 15 June 2015.
In July 2013, ISPT acquired an initial 50% interest in Karingal Hub, a sub regional shopping centre, from managing co-owner Federation Centres.
Sam Curry, ISPT’s General Manager, Retail Services, said: “Karingal Hub is well situated on the Frankston-Cranbourne Road and connected to the Peninsula Link Freeway. The Centre has a strong convenience base including fashion, homewares and fresh food, and includes Star Zone Karingal, an entertainment precinct offering Village Cinemas, restaurants and eateries”.