Coles Group's (ASX:COL) shares were flat on Monday after the Australian Competition and Consumer Commission (ACCC) said it started a phase one initial review of a proposed lease between Coles and the trustee for Saracen Property Holdings for a supermarket within a new neighbourhood center at Clementine Village in Western Australia, the regulator said in a Friday statement.

The proposed Coles supermarket is anticipated to open in July 2029, with the ACCC's determination period ending September 4, the statement added.