ISPT acquires Lakelands Shopping Centre
Lakelands Shopping Centre, currently a vacant block of land to be constructed into a sub-regional shopping centre, is due for completion in 2017. The property has been acquired by the ISPT Retail Australia Property Trust on a ‘fund through’ basis. Lakelands is approximately 65 kilometres south of Perth.
Upon completion, Lakelands Shopping Centre will comprise a subregional convenience based centre anchored by a Coles supermarket, Kmart discount department store, an Aldi supermarket and Coles Express. The anchor tenants will be complemented in the future by a proposed child care facility, tavern and 38 specialty food and service stores.
Cameron Gregson, ISPT’s Fund Manager said: “ISPT looks forward to working with the PEET Group, in delivering Lakelands Shopping Centre over the next 18 months. We are confident of the success of a future sub-regional centre anchored by strong retail anchors and partners, Coles, Kmart and Aldi. Supported by key town-centre offerings such as child care, a tavern and a deep mix of specialty food and service operators will provide a superb retail offer for the community and an ideal investment for ISPT investors”.