Billionaire duo Jack Gance and Mario Verrocchi, the masterminds behind Chemist Warehouse, have quietly made a significant move in Sydney’s upscale suburb of Mosman. Fresh off their lucrative ASX listing, they have set their sights on a prime location within the lower North Shore region.
“In a deal totaling $11.8 million, Gance and Verrocchi secured a 507-square-meter property at 886-888 Military Road,”
revealed industry insiders familiar with the transaction. The site was previously occupied by Brunskills Pharmacy and is presently leased to Harry Hartog Bookseller, strategically located just a stone’s throw away from Chemist Warehouse’s existing operation on Military Road.
With plans to potentially take over the new site once Harry Hartog Booksellers’ lease expires in August 2029, Gance and Verrocchi are positioning themselves for further expansion in the affluent neighborhood of Mosman.
Meanwhile, another notable transaction took place in Mosman involving a diverse property comprising residential apartments, retail shops, an industrial warehouse, and a veterinary clinic. The complex located at 81–83 Avenue Road and 7–11 Canrobert Street changed hands for $16.36 million, attracting keen interest from various real estate stakeholders.
Moving northward towards Newcastle, an emerging hotspot for property investments beckons prominent figures like Dr. Jerry Schwartz and Simon Mordant. With billions pouring into the rejuvenation of this once-sleepy city in northern New South Wales, it has captured the attention of savvy investors seeking new opportunities.
Dr. Schwartz’s ambitious endeavor involves revitalizing Newcastle’s iconic post office into a dynamic community space housing retail outlets, dining establishments, and event venues – all aimed at preserving the city’s rich heritage while fostering growth.
On the other hand, Simon Mordant’s philanthropic gesture entails donating select artworks from his private collection to enhance Newcastle Art Gallery’s offerings when it reopens post-expansion later this year.
In Sydney’s western suburbs lies another intriguing development as pub tycoon John Azar secures ownership of Duke of Dural for $25 million. This popular establishment boasts not only substantial weekly revenue but also adds to Azar’s growing portfolio which includes several well-known pubs across the city.
Furthermore, major real estate deals are underway as Stockland divests four high-quality logistics sheds to Cadence Property Group for a staggering $170.5 million across Melbourne and Sydney markets – underscoring robust investor confidence in Australia’s industrial sector.
The commercial property landscape continues to witness dynamic shifts as key players seize strategic opportunities amidst evolving market conditions.
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