Fife Capital, a Sydney-based fund manager, has paid almost A$20 million ($13 million) for a four-story strata property in Sydney’s CBD, known as Castlereagh Club.
The 2,622-square-meter (28,222-square-foot) property is situated within the five-level podium of the Victoria Tower Residential, according to The Urban Developer.
The building was recently refurbished, with a World Gym to occupy 1,600 square meters (17,222 square feet). The property features a ground-floor bar with poker machines, a restaurant, 12 parking spaces, squash courts and a gymnasium.
Castlereagh Club has occupied the building since 1995, after the property was developed by Leda Holdings.
The A$19.85 million ($13.6 million) sale includes a leaseback to the Castlereagh Club, which will continue to operate its club services, a bar and Lynn Shanghai restaurant.
