The Obeid's list Ultimo commercial site
Staff ReporterDecember 7, 2020
The Obeid family is offloading a development site in Ultimo.
The 488 square metre site at 129-135 Broadway, owned by former Labor minister Eddie Obeid's sons, Paul and Damian, is being marketed as a mixed-use opportunity with its position next to the University of Technology Sydney.
CBRE have been appointed to market the site. The Australian reports it will fetch $10 million plus.
It is expected to be popular with developers as well as pub operators and restaurateurs.
The B4-mixed use commercial building is leased to the Notre Dame University and Essen Restaurant & Beer Cafe for a net annual income of $396,000.