ISPT acquisition at Waurn Ponds Shopping Centre brings ownership to 50%
ISPT has completed the acquisition of a 50% interest in Waurn Ponds Shopping Centre, a sub-regional centre located in a growth corridor south west of the Geelong CBD in regional Victoria.
In July 2014 ISPT acquired a 50% interest in the existing Waurn Ponds Shopping Centre. The Centre has undergone a redevelopment, completed in December 2014. This acquisition of a 50% portion of the redeveloped Centre completes the purchase. Australian Unity holds the remaining 50% interest.
Sam Curry, ISPT’s General Manager, Retail Services said: “Waurn Ponds Shopping Centre is a strong performing Centre and a good fit with ISPT’s regional retail portfolio. The retail mix at Waurn Ponds Shopping Centre is complemented by the addition of a Coles new larger format superstore and a casual dining precinct. Waurn Ponds enjoys high standards of liveability and price advantages and is attracting new residents and investment.”