Markham adds another wharf to its Sydney portfolio
The private real estate group Markham has bought Sydney's popular King Street Wharf development.
Located next to the Barangaroo precinct, King Street Wharf has been sold for $125.5 million, on a yield of 6.02 per cent.
It was listed in January at $130 million.
It was a 99-year leasehold of the first project built in the area, opening just before the Sydney Olympic Games in 2000.
LaSalle Investment Management had paid about $90 million in 2016 for about $90 million having bought it from Brookfield Multiplex who developed the property.
Its 14 tenants include the Cargo Bar, the Malaya restaurant, and Bungalow 8.
Markham spent $90.5 million in May this year on the office space at the northern end of the Piers 8&9, Walsh Bay.
In 2016 Markham and development heavyweight Lend Lease teamed up to buy the Sydney Superyacht Marina.
Markham is headed by James Markham and Cameron Habler.
