The beleagured Centro Properties Group has offloaded a shopping centre in the small Victorian coastal hamlet of Rosebud, about 80 minutes south of Melbourne.

The Rosebud Shopping Centre sold for $13.14 million, a figure less than its already battered December 2008 book value.

Centro listed the Rosebud asset for sale at the same time it put a centre in Meadow Heights, in Melbourne's north-west, on the market. That property has not yet sold.