Newmark consider adding Como Centre after Jam Factory acquisition

Newmark consider adding Como Centre after Jam Factory acquisition
Newmark consider adding Como Centre after Jam Factory acquisition

The Como Centre in South Yarra has attracted the attention of the boutique funds manager Newmark Capital, which is led by Chris Langford, the former star of AFL club Hawthorn.

The Australian newspaper reports Newmark is looking at the purchase of the Como Centre, listed by Mirvac for close to $230 million.

The group secured the nearby Jam Factory for about $165 million last year from financial services company Challenger.

The Como is a two-hectare site with street frontage to Chapel Street, Toorak Road and River Street.

The property generates more than $14 million of net income from more than 25,000 sqm of office space and 6600 sqm of retail space.

There is a 113-room hotel operated by Accor on a lease expiring in June 2021, with a five-year option.

The centre has a car park for 614 vehicles.

Newmark Capital was founded in 2011.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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