Not for profit buys Woolloomooloo development site
A major not for profit has swooped on a 1960s Woolloomooloo office listed with a controversial permit for a five level replacement.
The Royal Freemasons Benevolent Institution Limited paid $16 million for 47-51 Riley Street, to occupy.
Rose Group was seller.
Also the occupier, the development company led by brothers Bryan and Stuart Rose, outlaid $4.375m in October, 2001.
HQ sold
The Rose brothers’ late father, Bob, chaired the Urban Taskforce between 2003 and 2009, was an AFR Rich Lister and, 26 years ago, awarded the Order of Australia.
He also bought the Woolloomooloo showroom/office with 1726 square metres and 14 car parks, on 580 sqm (continues below).
The application to replace it was lodged in 2024; the proposal contains ground floor retail, offices and an activated rooftop, all capitalising on north facing Sydney Harbour and Sydney Opera House views.
Some of the building, which drew 114 neighbour objections, and 17 in support, was to have acted as the Rose Group’s next headquarters.
Instead the asset was listed in February with an optional leaseback until October.
CBRE’s Angus Windred, Callum Cooke, Mitch Noonan and Jake Hatch were the agents.
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