Tavern site sold
Wollongong's landmark Oxford Tavern site (pictured), located in a prime position between the beach and CBD, has sold to a Sydney-based developer for about $7 million. The selling agents, Jones Lang LaSalle's John Macree and Leslie Cheng, and Travis Machan from MMJ Wollongong, said the undisclosed buyer was considering a number of development options for the property, including mixed-use residential, commercial and retail development.
City towers on market
The global Standard Life group is said to be raising cash through the sale of assets, including its office tower at 16 Spring Street, Sydney, which is understood to be worth about $25 million. This follows news that Blackstone is looking to sell its tower at 227 Elizabeth Street in Sydney, which is said to be worth as much as $150 million. Jones Lang LaSalle is selling the 1200 sq m office building at 46 Nicholson Street, St Leonards, complete with a long-term tenant, the Nature Care College, for about $5.65 million.