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Moore Park’s Entertainment Quarter sold to high profile investor syndicate

Moore Park’s Entertainment Quarter sold to high profile investor syndicate
July 7, 2014

The high profile investor Carsingha syndicate of John Singleton, Gerry Harvey and Mark Carnegie have spent $80 million to buy the leasehold of the Entertainment Quarter at Moore Park.

Known as the 'three amigos', the trio see the potential for redevelopment at the Centennial Park location.

Commenting on the acquisition, Harvey told Fairfax Media “we - John Singleton, Katie Page, Mark Carnegie and I - visited it a couple of times and realised it was hard to get 11 hectares with development opportunities and its location, anywhere else in Sydney.”

Harvey suggested about 26,000 metres² within could be readily redeveloped after consultation with the local residents, adding "we will look at all options, including a hotel, pubs, serviced apartments and an updated retail sector.”

Previously the syndicate's portfolio has centred on hotel acquisitions.

CFS Retail Property Trust listed its leasehold interest in The Entertainment Quarter through Sam McVay from McVay Real Estate who secured the offer from the consortium headed by the Carnegie Private Opportunities Fund No. 1.

The sale of the mixed use asset focused on retail, F&B and entertainment along with space in the Centennial Park precinct is conditional on the approval of the ground lessor and the NSW government. 

It was sold by the CFS almost 10 years after it was bought from Rupert Murdoch's News Corporation and the developer, Lend Lease.

9th April 2014 - MOORE PARK ENTERTAINMENT QUARTER UP FOR SALE

16th December 2013 - WATERWORLD INFLATABLE WATERPARK TO OPERATE IN SYDNEY’S ENTERTAINMENT QUARTER THROUGH SCHOOL HOLIDAYS 

7th October 2010 - ROLLER DERBY MAKES A COMEBACK

19th July 2010 - NO SLEAZE AT THE HORDERN PAVILION  

 


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Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

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