Property investor GPT Group has sold the Floreat Forum shopping centre in Perth's western suburbs to Australasian Property Investments for $100m.

GPT chief executive Michael Cameron said on Wednesday the sale was consistent with the group's $1.7bn non-core asset divestment program.

The sales were flagged in October and the proceeds will be used to strengthen GPT's balance sheet and liquidity position.

'We continue to make progress on our sale program, with this transaction bringing the total of asset sales close to $560mn over the last six months,' Cameron said in a statement.

Conditions of the sale include the GPT Wholesale Shopping Centre Fund waiving its right to acquire the asset.

GPT said the sale reflects a yield of 8.25%.

The Age