50% Share In Westfield Eastgardens Sold For $720 Million

In one of the biggest retail sales of the year, a 50% share in Westfield Eastgardens has sold for $720 million. The sale was arranged by Simon Rooney of JLL and the vendor, and the remaining half share owner was the Tower Terrace Group. Tower Terrace was founded by John Saunders, one of the original co-founders of Westfield.

Together with Frank Lowy the two war time refugees began with one small delicatessen before opening the first Westfield at Blacktown in 1959.

The purchaser, the…