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SCENTRE Group, the $20 billion mall owner born out of the restructure of Westfield Group, has fast-tracked the sale of four centres in New Zealand that have a combined value of $NZ760 million ($731.6m).

Scentre has appointed agents Colliers International to manage the sales campaign and has started putting the assets to institutional buyers.

Scentre chief executive Peter Allen told The Australian last week that the group was looking to sell the entire centres, either singly or in a portfolio transaction, rather than half stakes.

By selling the entire centres, Scentre would probably hand over the management rights for the malls to the purchasing party. It would put the proceeds back into its high returning development pipeline.

Read more: Scentre steps up mall sales

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