Westfield sells Shore City mall for $83.5m
Westfield has sold Shore City mall in Takapuna in Auckland's biggest property deal in almost a year.
Westfield Retail Trust holds a half share along with Westfield Group.
The value of the total sale was $83.5 million, split between the two ownership entities.
Proceeds will be used to repay debt.
The buyer is Aviva Investors Asia Pacific Property Fund.
Andrew Reed and John Goddard of Colliers International were exclusive agents on the deal.
The sale is the biggest commercial property deal in the Auckland market since August 2011. The property comprises 14,139m² of gross lettable area.
Colliers International concluded the deal and the agency has also been awarded the property management contract.
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Comments and questions4
Hmmm - does acting as agent for the vendor and taking an immediate property management appointment from the purchaser sound slightly conflicted to anybody else, or is it just me ?
well, I can't see how there is a conflict - If I buy a residential house as an investment and the agent I buy it through offers to manage it for me as far as I can see thats ok??
How is there a conflict?
Ask the NZAA.They have their inexperienced noses into everything.They would agree with ANON #1.Seems to me most decisions are over the top.They have never heard of the human angle, or common sense.