CFS Retail Property Trust will sell the Golden Grove Village Shopping Centre in South Australia for $100m.

The company said it had entered into an unconditional contract with a private investor for $100m, which represents an initial yield of 7.5% and a 4.8% discount to the December 31, 2008 valuation.

The centre was acquired as part of the acquisition of the retail assets of the Colonial First State Property Trust Group in October 2002.

It comprises a Big W, Woolworths, Foodland, Baby Target and about 104 specialty retailers.

The Age