Coles – supermarket site in Narangba East, Qld

WA-80043

Coles Group Limited (**Coles**) is an Australian public company (ASX: COL) that primarily operates: * supermarkets nationwide through its subsidiary, Coles Supermarkets Australia Pty Ltd; and * retail liquor stores nationwide, trading under the Liquorland, Liquorland Warehouse and Liquorland Cellars brands. Coles also has a property development arm, Coles Group Property Developments Ltd, that buys land and constructs shopping centres, standalone supermarkets and / or liquor outlets and then sells these completed sites to third party buyers. The vendor, Consolidated Properties Group Pty Ltd, is an Australian development company with experience developing residential, commercial and retail projects. A wholly owned subsidiary of Consolidated Properties Group Pty Ltd, OptionCo Pty Ltd (the **Lessor**), is the proposed lessor in respect of the Narangba East Site (defined below). Coles entered into a letter of offer with the Lessor in late 2024 in respect of a proposed leasehold interest for a supermarket at a new neighbourhood centre in Narangba East (the **Narangba East Site**). The Narangba East Site is located in the eastern part of Narangba, a suburb approximately 38 km north of the Brisbane CBD within the City of Moreton Bay. Following revisions to the site layout arising from the initial development approval process, the parties now propose to enter into an Agreement for Lease. The revised layout relocates the proposed supermarket within the same neighbourhood centre and involves a minor reduction in gross lettable area (the **Acquisition**).