SPAIN'S ALLEGRA EUROPEAN HOLDINGS BUYS BVLGARI HOUSE BUILDING!

Spanish property company Allegra European Holdings (Allegra) has made its debut in Australia, purchasing the Bvlgari House building for $29 Million.


The property comprises several strata units within 64 Castlereagh Street Sydney with a combined area of approximately 974sqm. The property is occupied by Bvlgari Australia, which is owned by Louis Vuitton Moet Hennessy.


The sale reflects a passing yield of 5.6 per cent. The net rental is approximately $1.6 million per annum.


Blueprint Property was retained by Allegra to source and negotiate the purchase of a suitable investment asset. Manuel Pavia of Blueprint Property negotiated the deal on behalf of Allegra.