Sydney Chinatown $6.7 million retail sale
Jonathan ChancellorDecember 7, 2020
A retail property in Sydney’s Chinatown has sold to a Hong Kong based family for $6.7 million through Knight Frank.
It was the first time the four level property had been offered to the market in more than 160 years.
The 489 square metre retail building at 713 George Street sits on a 272 square metre holding.
The property zoned allows for commercial/residential/hotel use to a potential 2,040sqm (subject to council approval).
Sales agents Andy Hu and Dominic Ong of Knight Frank said properties along George Street were rarely offered to the market, especially in the Chinatown precinct.
It was the fifth freehold property - sub $15 million - on George Street to have been publicly offered since 2010.
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.
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Retail