Yuhu Group (Australia) today announced the $81 million acquisition of a significant commercial landholding at Pymble, on Sydney’s sought-after, upper north shore.
The Pymble Corporate Centre is located on a 1.06 hectare site at 20 Bridge Street. It comprises three modern office buildings up to four levels, with net lettable space of 14,349 square metres. The site also incorporates 590 car spaces.
Yuhu Group Chairman Mr Xiangmo Huang said the company was very pleased to add another high-quality property to its growing portfolio.
“We see Pymble as an area with a very bright future and this acquisition represents a strategic investment in that future,” he said.
Mr Huang said Yuhu Group was very optimistic about 2017 following the commencement of the construction phase on the company’s $250 million North Sydney residential development, The Miller.
In 2016 Yuhu Group lodged a $276 million development proposal with the City of Ryde for the transformation of the Eastwood Town Centre, which it hopes will also move forward this year.