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Retail strata sells for almost $100 million

Property Markets / Transactions

Apr 15 2018

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The retail strata of mega inner Sydney housing project Park Sydney has sold for close to $100 million. 

Joint developers Greenland Australia and Golden Horse sold the entire 10,000 square metre retail strata, with Golden Horse purchasing the it separately as a retail investor. 

The Erskineville property is one of the largest mixed-use projects in the area, and will offer the suburb its first main commercial hub with retail outlets, cafes and restaurants, childcare centres, a 7400 sq m park, walkways and cycleways. 

Golden Horse first bought the site from Goodman Group for $380 million before joining with Greenland, who current retains 60 per cent, to develop the 1.6 billion Park Sydney. 

The sale of the retail strata is inline with Greenland’s current apartment-focused strategy. The group’s CBD based Greenland Centre - which will be Sydney’s tallest apartment tower, is due for completion in 2020. 

 

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