Cafe at the base of Milsons Point penthouse owned by Nicole Kidman sells for record rate
A bolthole café at the base of Mirvac’s harbourside development Latitude, which is the Sydney base of Nicole Kidman and Keith Urban, has changed hands for a record rate.
Colliers’ Tom Appleby and Beau Mayer sold the 29sqm shop at 55 Lavender Street, Milsons Point on behalf of Oriental Cool Pty Ltd for $1.03m, reflecting $35,517 per sqm.
The sale, which set a new dollar-per-square-metre record for Milsons Point and North Sydney, is a testament to the market’s confidence in the place the celebrity couple and daughters Sunday Rose and Faith Margaret call home during their Sydney visits.
“We’ve noticed a strong uptick in buyer sentiment for similar retail offerings, especially in vibrant metropolitan hubs such as Milsons Point, which surged in popularity during the pandemic” Mayer said.
The cafe was highly sought after by self-managed super funds and local investors.
Kidman has owned in Latitude since 2009, buying the penthouse from Wizards Home Loans founder Mark Bouris.
She then bought the adjoining penthouse in 2012 for more than $7m to create one mega-apartment.
Then last year, perhaps with their daughters in mind, she bought the apartment below the penthouse for $2.78m.
Colliers also recently sold the Guylian Chocolate Café for $11.5m, culminating in a rate per square metre of $153,358, which at the time broke the Australian retail record.