Nov 05 2018Add to Favorites
After selling to New Zealand investor Brian Cook on a cap rate of c. 5% in mid-2016, the newly completed Woolworths stratum investment under the Omnia building in Potts Point is available for sale. The 1,190sqm approx tenanted investment offers a fully leased income of c. $946,000 pa with Woolworths occupying c. 918sqm and c.315sqm of supporting specialties. CBRE is offering the property for sale via expressions of interest.
Savills have recently sold a smaller 460sqm stratum investment at 88 Milsons Point, on the lower North Shore. The property is occupied by QE, a food store with a fully leased net income at $218,500 sold reflecting a net capitalisation rate of 4.69% to an investor from Hong Kong. According to Savills, the property was on the market for 13 days and there were 230 inquiries, 15 inspections, 6 contract requests.
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Luxury property developer, GURNER has received planning approval for yet another heritage project in Collingwood, as its proposal for a boutique mixed-use development at 368-374 Smith Street gets the green light after a mediation with locals and Council that saw the permit issued without a VCAT hearing.
27-year-old Kayla Itsines and husband Tobi Pearce, 26, have come in at number 5 of the Young Rich List. With an estimated net wealth of $486million from their fitness app, ?Sweat? which has over 40 million users, paying $20 per month, last year the pair were ranked 40thwith a combined wealth of $63million.
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