DNZ Property Fund has signed an unconditional contract to sell a Hamilton industrial property for $12,400,000.

The property is at 709 Te Rapa Rd.

Settlement is expected in January 2015.

The company has previously stated that a combination of the divestment of non-core assets and DNZ current bank facilities will fund the $155 million Westgate Mall over the duration of the project.

Since the announcement of DNZ’s divestment programme, the company has agreed sales with a total value of $25.3 million, including the sale of two Wellington properties in early December.