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.