julius coleman eyes centro properties business

Julius Coleman is believed to have made a series of offers to buy Centro Properties services business with his former business partner and a group of other investors, reports The Australian.

Mr Coleman is understood to have made the offer in partnership with Mike Fitzpatrick, who used to be a shareholder of MCS. MCS was a syndicates business that Mr Coleman owned before selling it to Centro.

The newspaper reported Centro's services business generated funds and property management fees from the company's property acquisitions.

Credit Suisse listed property analyst Andrew Rosivach told The Australian the struggling shopping centre group's services business could be worth from $500 million to $1billion.