A private investor has bought two landmark restaurant sites, Otto Ristorante and Kingsleys, on Woolloomooloo Finger Wharf for $20 million.
The sale was part of JPMorgan Asset Management’s sell-down of Aviva Investors’ assets in the Asia-Pacific region which commenced last year. As reported by The Financial Review, the investment is a long-term leasehold expiring in 2099.
"The property generated good interest and there were several domestic and international bidders over the marketing campaign," Rebecca Roberts of CI Australia who was part of the team appointed to sell the properties.
"It reflects the continued demand for investments in recognised locations with well-structured leases and secure income. Cowper Wharf in Woolloomooloo continues to be one of Sydney's iconic locations, which is evidenced by the continual success of Otto and Kingsleys."