Edgecliff Centre sold at $138 million to Longhurst Group

Edgecliff Centre sold at $138 million to Longhurst Group
Staff ReporterDecember 7, 2020

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.

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