Mirvac Group (ASX:MGR) has sold the Taree City Centre for $53.5 million, fetching slightly above its book value.
The property developer says the sale is in line with its strategy of divesting around $200 million worth of Mirvac Property Trust non-aligned assets this financial year.
Mirvac has to date sold $127 million of assets including four industrial assets last month.
The Taree City Centre is located on the mid-north coast of New South Wales.
In the 2011 financial year Mirvac Group generated a net profit of $183 million.
