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Prime Burwood Development Site Sells To Syndicate

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A Burwood property in Sydney has sold for $35.6 million to a syndicate controlled by Rebel Property Group and Ashe Morgan.

The vendor,

EG Funds Management bought the asset in 2010 for $25 million.

The 6,400 square metre site at 2-14 Elsie Street has significant development potential.

It is currently fully leased to the state governments RailCorp for another five years.

The sale price reflected a yield of over 7 per cent, according to The Australian Financial Review.

CBRE's Nicholas Heaton managed the deal.

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Article originally posted at: https://https://theurbandeveloper.com/articles/prime-burwood-development-site-sells-to-syndicate