A group that had considered bidding for an infrastructure business of Westpac has walked away.

Australian property group Charter Hall has pulled out of a deal to acquire Westpac's A$14.3 billion infrastructure investment business, Hastings Management.

Media reports said the decision came amid concerns in the market that some investors had threatened to terminate an agreement, affecting any sale. 

There was no direct reference to the matter on the Westpac media affairs section of its own corporate website that this publication could identify at the time of going to press.

“Further to Charter Hall Group’s announcement on 24 July 2017, Charter Hall has determined not to proceed with further due diligence on the acquisition of Hastings Management Proprietary Limited,” Charter hall said in a brief statement that gave no other reasons for the decision. 

Charter Hall has over A$19 billion of funds under management across the office, retail and industrial sectors. The Group has offices in Sydney, Melbourne, Brisbane, Adelaide and Perth.