Walsh Bay buy by Sumner Capital
The Swiss private equity firm Sumner Capital has bought more on the Walsh Bay, Sydney waterfront, buying Pier 8 & 9 prior to scheduled auction for $8.25 million.
The strata lot - 1000 square metres over two storeys - is the largest commercial development on the Hickson Road heritage precinct.
The sale price reflects a yield in the mid 6 per cent range through Knight Frank and LJ Hooker who marketed the property on behalf of Michael Williams' W Property.
One of only three commercial lots, the building is leased to architects Jackson Teece, Deluxe Australia and design practice HASSELL.
Sumner already owns other lots at Walsh Bay, which is on the northern fringe the new $9 billion Barangaroo development.
The firm has provided the opportunity for investors who want to own Australian real estate since 2008.
