ISPT acquires Waurn Ponds, VIC

ISPT has acquired a 50% interest in Waurn Ponds Shopping Centre, a sub regional centre anchored by Target and Woolworths and Reading Cinemas and 89 speciality retailers. Australian Unity holds the other 50% interest.

The Centre is undergoing redevelopment to extend by 6,860 sqm under a partnership agreement between Australian Unity and Coles Group Property Development with completion expected in September 2014. On completion ISPT will purchase a 50% interest in the extended Centre from Coles Group Property Development. Waurn Ponds is a residential suburb located 7 km south west of the Geelong CBD.