NATHAN MAWBY SAMANTHA LANDY
PROMINENT developers and have sold a trophy CBD retail site at an in-room auction for $21.55 million.
CBRE’s Josh Rutman said nine bidders fought for the Collins St property, opposite Southern Cross station at the base of Liberty Tower, ensuring it “exceeded everyone’s expectations”.
Danny said he and his brother Morry — the founder of developer Pan Urban and Schwartz Media — were “very pleased” with the “unexpected result”. The sale marked “the largest ground-floor strata transaction in the city’s history”, Mr Rutman said.
About 300 people watched investors from Melbourne, Sydney, Hong Kong, China, Malaysia and Taiwan bid on the property.
It contains eight shops with ongoing leases at a base annual rental income of $892,000.