Newtown, Sydney retail store sells for $4,125,000

Newtown, Sydney retail store sells for $4,125,000
Jonathan ChancellorDecember 7, 2020

The 249 King Street, Newtown retail premises sold at mid-week auction for $4,125,000.

It last sold in 2007 at $2.1 million.

It was sold by Laing & Simmons Commercial agent Tony Anderson and Lindsay Sturrock.

There was a $2.7 million opening bid with auctionWORKS' David Scholes.

The fully renovated, two level building is located in the heart of King Street, Newtown.

Pentimento, the specialist book and gift shop, is one its two established tenants with long-term leases.

The net income is $204,741.83 per annum, plus GST.

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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