THE Perth-based Property Bank Australia has paid $15.6 million for a North Sydney commercial investment.
It is the latest in a string of investments on the North Shore where PBA has invested recently.
Its latest acquisition, a five-level, 3540 square metre office on a 1034 square metre block at 51 Berry Street returns rent of $1.4 million per annum. It includes 42 car parks and had recently undergone capital value works.
The main tenant is ACE Limited which has occupied the building since new and recently signed a new five year lease.Read more