Chinese investors continue to spend big in Australia, the latest being the sale of a commercial office building in Liverpool CBD.
The private Chinese investment group spent $52,500,000 on the Northumberland Street office building, which makes it the highest property sale in the city to date.
The purchase comes with tenants, with a lease to the NSW Family and Community Services until 2022.
The property was marketed by Colliers International and Ray White Commercial Western Sydney.
The building was one of Centrelink’s most concentrated multi-service centres across Australia, Ray White’s Peter Vines said.
“We had a huge amount of interest throughout the campaign, with more than 120 enquiries coming from multiple demographics,” he said.
The property will return a 6.6 per cent rental yield, which will produce nearly $3,460,000 in yearly income.
“With Parramatta currently booming, investors are seeking the next hotspot, and given its proximity to the new airport and billions of dollars being invested in infrastructure in the south-west, Liverpool is a very good option,” Mr Vines said.