Claire Tyrell of Business News reported on the recent sale of a gym and bowling alley for a combined $8.2 million to both local and interstate investors. Burgess Rawson Director Luke Randazzo brokered the deal for the 4,368 square meter property, achieving a 6.74 percent yield.
A gym and a bowling alley in Rockingham have sold to separate owners for a combined $8.2 million.
Aisha Abdulkadar Vasaiwala, of Southern River, purchased a bowling alley at 38 to 42 Patterson Road for $4.6 million from Rockingham Patterson Road Pty Ltd.
Australian Securities and Investments Commission records show that former Australian Finance Group chief executive Brett McKeon is a director and major shareholder of Rockingham Patterson Road Pty Ltd.
Ms Vasaiwala purchased the asset via Noor Garments Property Holdings Pty Ltd.
TEEG Australia, which bought out AMF Bowling in 2017, has a lease on the property until at least 2029.
It is zoned as primary waterfront village, with provisions to build up to a 15-storey building on the site.
Burgess Rawson director Luke Randazzo brokered the deal for the 4,368 square metre property, which sold at a 6.74 per cent yield.
Additionally, Soho Holdings Ltd purchased 44 Patterson Road from Global Megacorp Pty Ltd for $3.6 million.
Dean and Tegan Musumeci, of Mermaid Waters in Queensland, jointly own Soho Holdings, which is registered in NSW.
Sharmin Musca, of Bondi in NSW, owns Global Megacor, ASIC shows.
Gold’s Gym occupies the property and has a 10-year lease in place until 2031.
Mr Randazzo also brokered the deal for the property and says the buyers intend to hold both assets as investments for the medium term.
Read the full article online at Business News.
