A Double Bay shopping arcade has changed hands at $14.7 million in a sale arranged by Miron Solomons, Matt Pontey and James Wilson of Colliers International. Harris Arcade at 12 Cross Street, Double Bay has been sold by private company, H-Squared Pty Ltd, which is owned by Hugh Norton of Rose Bay and Clive Mansell of Turramurra. H-Squared had owned the property for at least 30 years.
The purchaser is the Ma family of Sydney, headed by Walter Marr of Watsons Bay. Previously known as Ching-Kwan Ma, Mr Marr is the owner of Hong Kong media empire, Oriental Press Group. His family founded its flagship newspaper, Oriental Daily News, in 1969. The family has property holdings in the Sydney CBD, a hotel in Ultimo and several others in Double Bay. They bought the Rose Porteous owned, 24 - 26 Bay Street, Double Bay for $12.5 million in 2016. It is a four-storey office building with five street level shops.
According to Eastern Sydney Cityscope, Harris Arcade is a two-storey brick retail and commercial building on a site area of 335 sqm. It comprises retail and commercial tenants that include designer, Louise Mitchell, Adilla Colab Hair Salon, J.E. Jewellers and literary magazine, Griffith Review.