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Westfield's Shore City sold to repay debt

14:00 AEST Fri Jun 29 2012
AAP
Westfield has sold its Shore City shopping centre in the Auckland suburb of Takapuna
Westfield has sold its Shore City shopping centre in the Auckland suburb of Takapuna (Getty)

Westfield has sold its Shore City shopping centre in the Auckland suburb of Takapuna.

The Westfield Retail Trust today announced that Westfield Shore City has been sold to Aviva Investors Asia Pacific Property Fund for $83.5 million.

The Trust and Westfield Group each had a 50 per cent interest in Westfield Shore City.

Proceeds from the sale will be used to repay debt.

Westfield Shore City currently houses several major nationwide retail chains including Farmers, Glassons and the Body Shop.