Ma family buys in Double Bay for $14.7 million

Ma family buys in Double Bay for $14.7 million
Ma family buys in Double Bay for $14.7 million

The 12 cross street, Double Bay premises have been sold at auction for $14.7 million. 

The Ma family purchased the property which consists of five retail tenancies and five commercial tenancies.

It sold at a super compressed yield of 2 per cent to the family of HongKong press baron Ching-Kwan Ma.

Bidding started at $8 million with Damien Cooley of Cooley Auctions.

Ma family buys in Double Bay for .7 million

Miron Solomons sold the property in conjunction with James Wilson at Colliers International and Matt Pontey.

“This trophy asset not only has multiple income streams, but also offers significant development upside.”

The development pipeline is tipped to exceed $600 million, primarily in the form of apartments in Double Bay.

Tags: 
Auctions Double Bay

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