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Bondi Beach duo add to portfolio

People & Companies / Latest News

Australia

Aug 27 2017

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Carolyn Cummins, The Sydney Morning Herald

Pacific Bondi duo, Rebel Property Group's Allen Linz and Capit.el Group's Eduard Litver, have bought 134-138 Campbell Parade for $18.25 million at a yield of 2.7 per cent. They bought the 1951 Bates Milk Bar on the same strip for $19.12 million last year. According to the agents, Miron Solomons, director, investment services, and Matt Pontey, senior executive, investment services, and auctioneer Damien Cooley, the absolute beachfront location delivers a low risk income stream for investors as one of the last significant freehold opportunities on Campbell Parade.

"It is the third time within the space of 12 months that Colliers has been involved in the sale of a flagship commercial asset on the beachfront of Australia's most famous destination," Mr Solomons said. "Over the last decade the Bondi Beach commercial market has outperformed the general market, driven by a reinvigorated retail offering and the endless attraction for both domestic and international tourists."

Go to The Sydney Morning Herald and read the full story.

SOURCE: The Sydney Morning Herald

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