Deka Immobilien most of Bvlgari  building

Deka Immobilien have acquired the Bvlgari building at 62 Castlereagh Street (well most of it). THe group have paid $58M for Lots 4,5,34,35 and 50 which comprise about 950sq m of space in the building, all of which is leased under a long-term lease to the luxury brand. The space is divided between three floors, with the recently modernised ground floor and first lower level being used for retail and the first floor for offices. The Bvlgari property was sold by Spain’s Allegra European Holdings, which has benefited from a dramatic overhaul of the flagship Sydney store on Castle­reagh Street after picking up the building from JPMorgan Asset Management for $29m two years ago. Location Map: #Commercial