Industry Superannuation Property Trust (ISPT) is believed to be in a better position than Charter Hall Group to acquire a $600 million shopping centre portfolio from Coles Group Limited, according to sources. The deal is close to finalization, as per the sources. It is understood that Coles will continue to manage the portfolio that will be tipped into a fund, with ISPT owning 75% and Coles 25%.

Queensland Investment Corporation and the Government of Singapore Investment Corporation were also believed to have shown some interest. Charter Hall was believed to be interested in buying and managing the portfolio in a partnership deal with a superannuation or pension fund. However, the company said it would not comment on speculation.