Speculation grows around Asian group's interest in $80 million Sydney Opera House car park
The international assault on the Australian property market has continued, with speculation emerging that an Asian group is close to securing the historic Sydney Opera House car park.
The property was being marketed for sale, on behalf of receivers, KordaMentha, with price expectations of about $80 million. Property Observer understands that the Asian group is in due diligence.
Prior to falling into the hands of receivers, the prized asset was owned by Mariner Financial - a company founded by Bill Ireland. Mariner reportedly purchased the car park for about $75 million in 2004.
Completed in 1993, the 12- storey premises has about 1200 parking bays and is operated by Wilson Parking. The income stream of the property is estimated to be about $7.6 million. Marketing agent Sam McVay of McVay Real Estate was appointed to sell the long leasehold.
"This is not just a car park," said McVay. “This is a critical piece of infrastructure servicing the largest city in Australia and one of the most famous buildings in the world."
Completed in 1993, the 12- storey premises has about 1200 parking bays and is operated by Wilson Parking.
