Sydney Harbourfront Bar sells for $25m
A Macao-based investor has acquired the "Buckley’s Bar" site on Sydney's Circular Quay for $25.1 million.
The Huang family offloaded the strata titled property after buying it two years ago for $21.5 million.
“Having held the asset for just over two years, the significant increase in value delivered an outstanding outcome for the vendor,” said Cushman & Wakefield’s Anthony Bray, who managed the expressions of interest campaign with Ryan Cross.
The retail lot will continue to be occupied by lessee Management International Group, and trade as Buckley’s Craft Beer Bar.
Ongoing development activity in and around Circular Quay set to be completed in 2021, including Quay Quarter and Opera Residences, are expected to give a further boost to the precinct.
Sheridan Randall, 18th December 2019
