Michael Snounou's luxury George Street office sells
A glamourous Sydney CBD office suite has sold for $890,000
The 37 sqm office last traded in 2013 when bought for $375,000 by chemical supplies executive Michael Snounou, who is facing trial for allegedly importing methamphetamine ingredients.
Snounou was committed last month to stand trial for 32 offences but is yet to enter a plea.
Snounou’s tenant at the 350 George St premises is the Robb Report, the luxury brand magazine publisher.
When the ANZ secured permission to auction the heritage-listed property, the NSW Supreme Court was told there was expected to be a surplus from the sale.
It was listed through Belle Commercial agent Andrew Vines who expected buyers to pay around $25,000 per square metre.
The result was closer to $24,000 per sqm.
Some 10 contracts were issued. The net proceeds will be held by the NSW Trustee and Guardian until further order.
The 1870s building was designed in the Federation Romanesque style.
