Hong Kong’s Arch Capital, is set to take control of 68 Alfred Street North Sydney, following the collective sale of 95 per cent of the strata office block for about $45 million. In November 2018, Colliers took to market 64% of the unit entitlements, however as this was insufficient to take advantage of the recent reform to NSW strata laws, a sale was delayed. Arch Capital ultimately struck an initial agreement with owners holding 75 per cent of unit entitlements in the block and then secured a further 20 percent with now just 5% of owners preferring to hold out. The B-grade 4402 square metre building at 68 Alfred Street was strata-titled in 1997. It has 11 levels of offices, retail space on the ground floor and 28 basement car parks. It is returning a net annual rent income of more than $2 million. Arch Capital is understood to be planning a substantial upgrade of the building. Location Plan: #Commercial
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