Chinese investors to buy Sydney office building for $88,888,888

Chinese investors to buy Sydney office building for $88,888,888
Chinese investors to buy Sydney office building for $88,888,888

Chinese firm Bridge Capital has partnered with Australian-based firm iProsperity Group to buy a property block in Sydney's CBD for $88,888,888.

The property, 333 Kent St, is expected to be developed into a high-end hotel with residential apartments. 

According to media reports Colliers International’s Vince Kernahan said there were nine offers ahead of the owner accepting the Bridge Capital offer. He said the offer exceeded their expectations. 

“Interested parties were predominantly residential and hotel developers with two groups looking to “landbank” the building,” he said.

 

Tags: 
Residential Development Commercial Sale

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