City Freeholds pays $52.17m for 92 Pitt St

Real estate fund manager EG Funds Management has sold 92 Pitt St, Sydney, to the private City Freeholds group. The property was bought by EG in 2015 for $30.6 million in the midst of the billion-dollar revitalisation of Martin Place. The commercial asset has a net leasing area of 4642sq m and, at sale, boasts 94 per cent occupancy. The sale was executed by James Barber and James Girvan of Colliers International, and John Bowie Wilson and Jonathan Vaughan of Knight Frank. "The strong result from this sale provides confirmation of a robust and improving Sydney office market and further endorses the original strategy behind the inception of the fund," Daniel Farley, of EG, said.

Awards

Ovolo Hotels, coming off the recent win for Australian General Manager of the Year Adam Taloni, and commendation for Hotel Brand and APAC Hotelier of the Year at the HM Awards, has picked up the award for Australia's Best Design Boutique Hotel and Best City Explorer Boutique Hotel for Ovolo Woolloomooloo and Ovolo 1888 Darling Harbour respectively at the 201 World Boutique Hotel awards. The gongs come as the group celebrates its first anniversary since launching in Australia.