GE Real Estate has bought two office buildings in Willoughby in Sydney’s north.
The two modern freestanding buildings are located approximately 20 metres apart at 150 Mowbray Road and 680 Willoughby Road, Willoughby.
The property at 150 Mowbray Road has 53 metre frontage, while 680 Willoughby has a 27 metre frontage. Both buildings are comprised of ground floor showroom premises plus two office levels.
The combined site area is over 4,400 sqm with a NLA of just under 4,450 sqm.
GE Real Estate’s director of Australian Investments Jason Kougellis said the buildings are low maintenance and provide substantial rental and capital growth opportunities in the rapidly recovering north shore rental market.
“Longer term, the site presents significant redevelopment opportunity.” he added.
“The fact that we can fund these deals from our balance sheet is a major advantage, as it allows us to execute quickly on all types of opportunities,” GE Real Estate’s South East Asia managing director Roger Keane said.
The sale was negotiated through Delmege Commercial and Bevan Kenny and Adam Woodward of Chesterton International.
By Adam Parsons
