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Visionary Investment Group Pays $130m For Sydney Block

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Sydney property developer and investor Visionary Investment Group has acquired a further block at Bathurst and Castlereagh streets with newcomer United Investment Australia Holding for $130 million, according to The Australian Financial Review. 

The corner block at 110-118 Bathurst Street and 203 Castlereagh Street holds a Stage 2 development approval for a 36-level residential tower.

While United Investment is understood to be the majority owner of the site, VIG will be the primary developer for the site, The AFR reported. 

In Februrary, the Group paid more than $30 million for 332 Pitt Street in Sydney's CBD – the last holding needed to complete a super block bounded by Castlereagh, Pitt and Liverpool Streets, according to The AFR.

Visionary Investment Group

Header image source: City of Sydney 

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Article originally posted at: https://theurbandeveloper.com/articles/visionary-investment-group-pays-130m-for-sydney-block