Park EQ sold to Gerry Harvey, John Singleton and Mark
Carnegie for $80m - 4th June 2014
John Singleton and Gerry Harvey have bought the Moore
Park EQ in Sydneys east. Source: News Limited
Businessmen Gerry Harvey and John Singleton will be
the new owners of the Moore Park Entertainment
Quarter after the rights to the lease were sold for
pair have joined a private consortium headed by investment
banker Mark Carnegie.
MOORE PARK EQ FOR SALE
owners, Colonial First State (CFS) Retail Property
Trust group announced the sale today after undergoing
an expression of interest campaign which started in
property sold for $10 million more than estimated
by CFS Retail Property Trust and its property partners
CFS Global Asset Management Property Retail Partnership.
Park Entertainment Quarter site was sold for more
than $10 million above initial estimates. Source:
News Corp Australia
Formerly the Sydney Showground, News Corp and Lend
Lease spent $430 million redeveloping the entertainment
quarter as part of an effort to create a backlot tour
theme park, Fox Studios and adjoining entertainment
suffering losses following the failure of a theme
park on the site, the entertainment hub was sold to
the precinct has since been revamped again and separated
from Fox Studios, retailers have continued to report
declining trade and foot traffic with one coffee shop
owner reporting a drop in sales from 3000 cups a day
to a staggering 200.
has been on the decline for retailers and restaurant
owners in the precint. Source: News Corp Australia
precinct consists of cinemas, restaurants, retail
outlets and health and fitness facilities.
site sits next to the Sydney Cricket Ground, Allianz
Stadium, Centennial Park, the Horden Pavillion and
Gorman, deputy CEO and chief investment officer said
the sale was in line with our strategy of divesting
sale remains conditional on the approval of the ground
lessor, Centennial Park Trust \ and the state government.