AirTrunk founder Robin Khuda acquires blue-chip Mosman corner with long-term mixed-use upside
Colliers has sold one of Mosman’s most tightly held and prominent corner properties for the first time in more than 30 years with AirTrunk founder and CEO Robin Khuda acquiring 713-715 Military Road, Mosman.
The landmark mixed-use asset, held by a local private family for over three decades, was sold to Mr Khuda’s luxury property development business, Ondas, following a highly competitive Expressions of Interest campaign conducted by Colliers which generated more than 250 genuine buyer enquiries.
Occupying a commanding corner position at the intersection of Military Road and Gouldsbury Street, just metres from the Mosman RSL Club and Woolworths Metro, the 587-square-metre site is a true Mosman landmark.
The sale reflects approximately $25,000 per square metre of land and a circa 4 per cent net passing yield, underscoring the depth of demand for premium village assets offering both secure income and long-term development potential on Sydney’s Lower North Shore.
The two-level property is fully leased to seven tenants across retail, commercial and residential uses, including Bec + Bridge, Cole Hair Studio, Niche Café and Ogenki Mosman providing diversified income alongside future flexibility.
The acquisition aligns with Mr Khuda’s growing focus on boutique luxury residential development through Ondas, targeting prestige suburbs characterised by strong downsizer demand and constrained supply. Recent planning reforms in Mosman are expected to unlock increased density opportunities within well-located village precincts, further enhancing the site’s long-term appeal.
The Military Road property also holds personal significance for Mr Khuda. It was at Niche Café, one of the building’s long-standing tenants, where he held regular meetings with Blackstone executives in the lead-up to the $24 billion sale of AirTrunk in 2024.
“That’s where the deal started,” Khuda said.
While any redevelopment is anticipated to be longer term with existing leases extending several years, the site benefits from favourable planning controls that create scope for a future landmark mixed-use development, subject to approvals. The precinct is set to experience a generational transformation following recent planning changes with other high-profile groups such as Abadeen, Helm, Rebel Property Group, DARE, Central Element and LA Property committing to Mosman.
The transaction was managed by Colliers Sydney North National Directors Tom Appleby and Guillaume Volz and was finalised on Boxing Day, with both parties keen to complete prior to year-end.
“Assets of this calibre rarely trade – the strong result underscores the depth of demand for premium investments with future development potential on Sydney’s North Shore,” added Tom Appleby, National Director, Head of Sydney North | Investment Services.
The surrounding Mosman village precinct is entering a period of generational change with a number of established and emerging developers committing capital to the area in response to planning changes and enduring demographic fundamentals.
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