Login
Powered by
MOMENTUM
MEDIA
Powered by MOMENTUM MEDIA
A Sydney central business district gelato store has sold for the highest price in Australian retail property history. Bartier Perry represented their long-time client in the sale of the property.
Firm: Bartier Perry
Value: $2.9 million
Area: Property
Key players: The Bartier Perry team was led by partner Irene Horan, who was supported by associate Julia Yassa and lawyer Jane Lee.
Deal significance: The property has sold for the highest price in Australian history for strata retail on a square metre rate, the firm said in a statement.
The site’s strategic location on the retail walkway to the Sydney Opera House was key to the amount of interest it received, selling for over $2.9 million despite only covering 16 square metres. Ms Horan said that this sale was pleasing due to it being a sale for a longstanding client.
She said: “The sale highlights the old property cliché of location, location, location, with the store having seen close to 2.9 million people walk past during pre-COVID times.
“For all the talk of interest rates and inflation we expect to see continued investor and buyer interest in the best retail locations in Sydney and beyond.”
We're evolving — and so should your insights. Heads up — Lawyers Weekly is going premium from 1 May for just $5 a month. Stay informed without missing a beat. More information coming soon.
Get breaking news
Adrian Suljanovic
