Collette Dinnigan is continuing to sell down a commercial property portfolio.
This time, the fashion designer has sold the Sydney warehouse, at 22-24 Hutchinson Street, Surry Hills, which was for close to two decades, her company headquarters.
The $6 million deal, reported first by The Daily Telegraph in this item, is to a company controlled by Jake O’Neil, son of property developer Denis O’Neil.
The incoming owners are reportedly planning to repurpose the three-level office warehouse into 11 apartments. The site occupies a 611 square metre block. Ms Dinnigan paid $1.225 million for it in 1998.
In July, the businesswoman sold the Paddington property set up as her first shop, on William Street, for $1.655 million. It cost $625,000 20 years earlier.
Last month, Melbourne private investor Marks Henderson paid $39 million for a Surry Hills office on a 797 square metre block. Rising five levels, 19 Foster Street includes 3154 square metres of office and retail space, converted from a warehouse.
South Africa-born Ms Dinnigan has in recent years been developing luxury residential homes with her husband, hotelier Bradley Cocks. It is reported the couple have recently returned from Puglia, Italy, where they are restoring a 400-year old farmhouse.