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Prime Burwood Development Site Sells To Syndicate
A Burwood property in Sydney has sold for $35.6 million to a syndicate controlled by Rebel Property Group and Ashe Morgan.
The vendor,
EG Funds Management bought the asset in 2010 for $25 million.
The 6,400 square metre site at 2-14 Elsie Street has significant development potential.
It is currently fully leased to the state governments RailCorp for another five years.
The sale price reflected a yield of over 7 per cent, according to The Australian Financial Review.
CBRE's Nicholas Heaton managed the deal.
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