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.