Anne Gibson

Anne Gibson is the Property editor of the NZ Herald

Westfield sells Auckland's Shore City mall

The Shore City mall in Takapuna has just been sold by Westfield for $83.5m.  Photo / Steven McNicholl
The Shore City mall in Takapuna has just been sold by Westfield for $83.5m. Photo / Steven McNicholl

New Zealand's biggest shopping mall owner has sold one of its Auckland sites, the Shore City complex in Auckland's Takapuna.

A notice has been issued to the ASX by Westfield Retail Trust to say that Westfield Shore City in Takapuna had been sold.

"The trust and Westfield Group, who each had a 50 per cent interest in Westfield Shore City, have sold the centre to Aviva Investors Asia Pacific Property Fund for a total purchase price of NZ$83.5 million, of which the trust's share is NZ$41.8 million," the notice said.

Investment property experts said Westfield was also trying to sell its Pakuranga and Glenfield malls as well as Chartwell in Hamilton. Westfield still has 11 other outlets throughout New Zealand.

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