ASX listed Scentre Group, with nine Westfield-branded malls in New Zealand, intends to sell four of its big centres here.
Those are Westfield WestCity in Henderson, Westfield Glenfield, Westfield Chartwell in Hamilton and Westfield Queensgate in Lower Hutt.
Announcing it made A$578 million in the December half year, the business signalled a clear intention to reduce its New Zealand stake, following the 49 per cent sale of five of its malls to Asian interests late last year.
In a statement released to the ASX today on its business plans, Scentre indicated it would keep malls where redevelopment opportunities were big but sell the others.
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