Australand Sells Crest Hotel, Kings Cross, For $72 Million

Australand told the AFR any change between the June 2009 valuation price, and the eventual sale price, “is likely to be immaterial”.

Recently murdered businessman Michael McGurk is reported to have made an offer to buy the Crest, and several rundown buildings around the Hotel for $70 million earlier this year.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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