Edgecliff Centre sold at $138 million to Longhurst Group

Edgecliff Centre sold at $138 million to Longhurst Group
Edgecliff Centre sold at $138 million to Longhurst Group

The Longhurst Group, has made its first purchase, buying the Edgecliff Centre, in Sydney's eastern suburbs for $138.75 million.

Longhurst, which is backed by local investors, is headed by former Mirvac executive, Paolo Razza.

The 1970s Edgecliff Centre consists of retail space plus a six-story office building, with a total floor area of 10,845 sq m. 

The sale on the current income reflects a yield of 3.72 per cent. 

It was sold by Hong Kong-based vendor, Lee Tai Enterprises. The adjoining East Point is owned by the Pollack family.

Longhurst has a further $500 million to invest.

Tags: 
Retail Property Edgecliff

Comments

Be the first one to comment on this article
What would you like to say about this project?