Investments

The ISPT fund management business has been implementing prudent property investment strategies for over 19 years to create one of Australia’s largest unlisted property funds. The ISPT Core Fund is the group’s flagship fund. The Fund invests solely in Australian commercial property across the spectrum of major property sectors, including office, retail and industrial and engages to create value through active asset management. Its property portfolio is well diversified by location and sector and is valued at circa $6.9 billion as at 31 March 2013.

The ISPT 50 Lonsdale Street Property Trust is a special purpose vehicle created to develop and manage one of Melbourne’s prime CBD office buildings. The Trust is a single asset structure with impeccable environmental credentials. The Trust is valued at circa $400 million as at 31 March 2013.

The ISPT Retail Australia Property Trust (IRAPT) is a portfolio of non-discretionary retail based neighbourhood and sub-regional shopping centres. IRAPT’s initial investment is a 75% interest in a portfolio of 20 retail centres with Coles retaining 25%. The initial portfolio is geographically diversified throughout Australia with each centre anchored by a Coles Supermarket. IRAPT is able to invest independently or with joint venture partners in any sub-sector of the Australian retail market. The Fund is open ended and initially valued at circa $400 million.

The ISPT Development and Opportunities funds (DOF) were established to achieve opportunistic returns from investment in property development activities. DOF is able to invest independently or with joint venture partners in any sector of the Australian property market. Developments range from englobo land rezoning, residential subdivision to CBD apartment development. The funds are valued annually and as at 30 June 2012 totalled circa $525 million.

The ISPT Grosvenor International Property Trust (IGIPT) is a portfolio of geographically diversified international property assets. IGIPT is a joint venture with Grosvenor Fund Management undertaking both fund and asset management of the investments. The portfolio comprises of retail assets in Spain and the United States. The Trust is valued bi-annually and is circa $AUD150 million as at 31 March 2013.

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