Chinatown Sydney retail sale at $11.5 million
Jonathan ChancellorDecember 7, 2020
Last month 746-748 George Street, Sydney was sold for $11.5 million.
The vendor investment syndicate sold to a Hong Kong investor with competitive bidding at its Cooley Auction.
Bing Lee occupies the ground floor and basement. It is a four level building on a 304 square metre with a total building area of 984 square metre.
The rent was below market according to the agent, Raymond Hung at Ray White City South.
The estimated total rent was $510,000 per annum, plus GST assuming fully let.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.