Queensland Investment Corporation is set to sell its Westpoint shopping centre in Sydney’s Blacktown for $900 million in what will be the biggest standalone retail property transaction in Australian history.

Local syndicator Haben and US investment manager Hines will each take a half stake in the western suburbs shopping centre under the deal, which sources said was due to be finalised within days. The price represents a capitalisation rate of about 5.75 per cent, in line with recent transactions.