Manly emporium sells to International College of Management Sydney
One of Manly’s historic retail properties, the 1918 Manly Emporium, has been sold by Raine & Horne Commercial Northern Beaches for $9 million plus.
It’s been purchased by the International College of Management Sydney (ICMS).
The deal included the rear-adjoining property 50 East Esplanade.
According to selling agent Vincent West, the sales manager at Raine & Horne Commercial Northern Beaches, the sale had been long sought by the college.
The college recently made an offer that was accepted by the trustee Wadian Nominee, which has looked after the property for many years.
It builds on their current St Patrick’s Estate hospitality operations, where they have been located since 1995.
The International College of Management, Sydney offer business degrees in sports management, hospitality, event management, property management, international tourism and business management.
"It represents one of Manly’s most important commercial sites, with its sought-after position fronting the southern side of the famous Corso, where daily foot traffic in the thousands strolls between Manly Wharf and Manly Beach,” says West.
“Some older Manly residents may also know the site as the location of the iconic Manly Pool Halls, which previously occupied the upper levels of the building,” he adds.
The two properties are home to ground floor retail premises occupied by major tenant Harrison’s Pharmacy, as well as a souvenir store.
