Westfield has sold a 50% stake in its Stratford City shopping centre in a £871.5m deal with two overseas pension funds. The Australian shopping centre developer sold a half share to Holland’s APG and the Canadian Pension Plan Investment Board – in a transaction valuing the development at more than £1.7bn. Westfield – which also owns a shopping mall in London’s Shepherd’s Bush – said the deal meant it had made a profit of £150m on the development a year earlier than had been expected. The Stratford City mall is not due for completion until late 2011, but well before the 2012 Olympics. The building is already 75% let by the likes of John Lewis and Marks & Spencer. Davis Coffer Lyons (DCL) is the retained agent for the site’s F&B offering.