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Colliers sells $255m of Westfield assets

Colliers has brokered a total of $255 million worth of properties on behalf of Westfield in recent months.

The most recent  was the $81.7 million sale of the Westfield Pakuranga mall in Auckland’s eastern suburbs.

It follows the sale of Shore City in Takapuna to Aviva Investors Asia Pacific Property Fund for $83.5m in June, and the Downtown Shopping Centre which was sold for $90m to Precinct Properties in September.

Westfield first entered into the New Zealand market in 1997 after purchasing the St Lukes Group portfolio.  

Before its most recent sales, Westfield had an interest in 10 shopping centres valued at around $2.6 bilion with more than 1400 retail outlets over 377,000m2.

The company is committed to developing its Newmarket, Auckland property.

More by Chris Hutching for NBR NZ Property Investor