Sydney Family Purchases Bondi Junction Retail Asset

Leased to St George Bank, 436 Oxford Street Bondi Junction has just sold for $13.4 million to the Chen family on a 4.9 per cent yield.

Located on the Oxford Street Mall, the three storey freehold retail building comprises 957sqm Gross Lettable Area of Retail on a 360sqm site area and comprises ground floor retail banking, first floor business banking premises and a lower ground floor.

Sold at public auction through Linda Zhu, Dominic Ong, Andy Hu and Daniel O’Brien of Knight Frank, the property is 100 per cent leased to St George Bank. Current net income is $665,600According to Linda Zhu, Knight Frank’s Associate Director, Asian Markets, “This is a rare investment opportunity in a historically tightly held market, and there was rapid bidding in the auction room today.”

The property is adjacent to Bondi Junction’s Bus and Train Interchange and just 100m one of Sydney’s premier shopping hotspots, Westfield’s flagship shopping centre, Westfield Bondi Junction.

Bondi Junction is the gateway to the eastern suburbs and the region’s retail and commercial centre and is just 6km east of the CBD.