Nick Scali buys property in Sydney's Manly Vale for $6.2 million

Nick Scali buys property in Sydney's Manly Vale for $6.2 million
Nick Scali buys property in Sydney's Manly Vale for $6.2 million

Furniture retailer Nick Scali Limited has acquired a site in Sydney’s Manly Vale for $6.2 million.

The 1 Kenneth Road property is a mixed-use site with potential for further development.  

Nick Scali said in its half-yearly report that the company had committed to acquire a property at Manly Vale (NSW) for a purchase price of $6.2 million, excluding statutory costs. It had paid a deposit of $620,000 and the property would settle after December 31. 

The total land area of 1 Kenneth Road & 265 Condamine St is 1,553 sqm. It has dual street access. 

It is a rapidly growing residential area with neighbouring properties approved for shop top development, says the description. The area has numerous housing developments, providing for an ideal setting for a furniture retailer, such as Nick Scali.

The deal was brokered by Raine & Horne Commercial’s Vincent West. 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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Retail Outlet Nick Scali

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