Artist Ken Done reaps $6.1m for Mosman shops
Iconic Australian artist Ken Done has sold his two Mosman shopfronts for a combined total of $6.1 million.
The shops, at 593-595 Military Rd, have been held by the Done family for 30 years and also house three residential apartments above.
Listing agent Tim Abbott, of LJ Hooker Mosman, says the properties drew incredible interest while on the market.
Commercial Insights: Subscribe to receive the latest news and updates
The properties were only on the market for three weeks before the final sale was achieved,” Abbott says.
“The final sale came down to a negotiation between a number of eager parties, which pushed the price much higher than expected.”
The two Mosman properties at 593-595 Military Rd, sold for a combined $6.1 million.
Abbott says buyers ranged from local investors to developers, with the final sale going to an investor who could expect a strong return.
“While the properties drew interest from a wide array of buyers, the final sale went to a local investor,” he said.
“The property on Military Rd will provide the new owner a sound, long-term investment.”
The property consists of a double fronted premises with three apartments above.
Well known in the Mosman area, the two shopfronts are leased by fashion retailers Camilla and Marc, and Ecco Shoes.
The apartments above consist of two, one-bedroom apartments, and one studio, also leased as residential properties.
The sale comes as the family property business, Cadmium Property, launches its 24-apartment development in Surry Hills — The Surrey.
This article from The Mosman Daily was originally published as “Australian artist Ken Done sells Mosman properties for $6.1 million“.
