Gravanis brothers snap up Barangaroo building
Lendlease has sold a modern mixed-use building overlooking Pyrmont Bay – part of its $10 billion Barangaroo South precinct.
The five floor complex at 400 Barangaroo Avenue found favour with Bill and Mario Gravanis’ Oscars Group, for $30.1 million.
Dixon Hospitality’s Untied Roof Bar occupies part of the 1773 square metres.
Penned by Durbach Block Jaggers, completed in 2016, and 87.5 per cent occupied, there is also a Virgin Active gym, TITLE bookstore and offices.
Oscars to occupy
Oscars plans to occupy part of the building.
“The asset features c500 sqm floorplates with a central core bathed in natural light on all sides and exceptional outlook onto the harbour and surrounding precinct,” CBRE agents Angus Windred, Mitch Noonan, Callum Cooke and James Parry, said.
The deal comes four months since we reported the Gravanis brothers entered the Adelaide hospitality sector with the purchase of three hotels from Greg Fahey for a total $80.
Last week, Oscars added to its portfolio in that city with the Paradise Hotel, for $22m.
In December, Oscars Group bought Sydney’s Luna Park from Brookfield with plans to revamp.
On 3.1 hectares at Milsons Point, that property cost just over $50m.
Subscribe to our newsletter at the bottom of this page.
