Macquarie CountryWide Trust has booked a $714m half-year net loss and yesterday announced $548m of property sales to try to get out of debt.

The result compares to a $35.6m net profit in the previous corresponding period and followed a 10%, or $600.8m, fall in its property values over the past six months.

It takes the value of its shopping centre portfolio to $5.421bn.

The Australian