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North Sydney Ends Year On A High

The North Sydney CBD ended 2020 on a high with several large sales transacted. Included is 60 Miller Street at $273 million through Knight FrankSydney. Dexus sold the building, which last traded at $73.5 million in 1998, to Ever Rich International Investment Pty Ltd. Ever Rich is owned by Chi Ming Yeung of Hong Kong.

60 Miller Street is a 17-storey office building with a two-storeyannexeto Mount Street and a five-storeybuilding on the corner of Mount and William Street. The main building, completed mid 1987, comprises 14,640 sqm of office space on 12 levels, 300 sqm of retail space on the ground and upper ground floors, a 300-sqm cafe and tavern in theannexeand three levels of basement parking for 165 cars. Its numerous tenants include Ardent Leisure, Vocus Group and Flight Centre.

Just a block away isGroupmHouse at 65 Berry Street, which sold early December and was settled before Christmas. Charter Hall sold it for $211.812 million to NMBE Pty Ltd, a company associated with the Intera Group, which is a Sydney based property management company originally founded in 1981 in Sydney, as afamily ownedproperty company.GroupmHouse last traded at $74.5 million in 2001. It is an 18-storey building containing 17 floors of office space, one retail level and basement parking for 259 cars over six basement levels; it was completed in 1986.

Virtually next door is 53 Berry Street, which sold for $54 million in a sale to a company owned by Paul Lederer. The building is a seven-storeybuilding, completed in 1988. It comprises six levels of offices above ground floor retail space and two levels of basement parking for 30 cars. It previously traded at $19.75 million in 2013.

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