Grocon to Sell Sydney CBD Assets

MELBOURNE-based builder Grocon will sell its Sydney headquarters, and an adjoining building that accommodates drinking institution the Belgian Beer Cafe. The two properties, set to fetch about $10 million, are surplus to the company’s needs, now it has restructured. Grocon plans to focus more on its own development activities, and less on third-party construction, according

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Challenger Sells George Street Cinema Complex, Sydney, For $85 Million

CHALLENGER Financial Services has made $85 million from the sale of its George Street Cinema complex in the Sydney CBD.

Private investors Coombes Property Group has purchased the 505 -523 George Street property, which includes a seven-storey cinema building, and sits on a 4,300 square metre block. The sale price is believed to translate to an approximate 8.25 per cent yield.

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