GGS Life church make $11 million move on Leichhardt’s Albert Palais
Glorious Gospel Church (GGS Life) has paid $11 million for the iconic Albert Palais building in Leichhardt.
The religious organisation plans to convert the Parramatta Rd property into a place of worship after striking a deal with the current owners for a two-year delayed settlement combined with a lease at $250,000 per annum.
Records reveal GGS Life have already taken up office space inside the Albert Palais until they gain formal ownership. Previously they operated out of 120 Great Northern Rd in Five Dock.
Built in 1934, 289-295 Parramatta Rd was regarded as one of top venues in Sydney to go dancing and socialising. This lead to it being dubbed the “Marriage Bureau” because so many people met and then later married there.
Ray White Commercial – Sydney City Fringe director Kristian Morris said the property received 100 inquiries and eight written offers during the expressions of interests campaign.
“We received a variety of interest from developers, accommodation providers, functions and events, dance and fitness, funeral parlours, office providers, and church groups,” Mr Morris said.
“People were attracted to the building’s rich history and character as a former dance hall, the corner location on a major arterial road, its three street frontages, its position relative to the Sydney CBD, and the proposed uplift in planning control under the Draft Parramatta Plan.”
The vendor, Michael Onoufriadis, had owned and operated the building with his family for 28 years.
“It was hard to let this property go,” Mr Onoufriadis said.
“We have so many memories of all the weddings, christenings and events we did for people.
“I am happy that it didn’t go to developers and that the building will continue to serve the community.”
Founder and head pastor at GGC Life church Leo Nicotra said the church had been leasing properties for the past 30 years.
“This acquisition is life changing for our organisation and its members,” Mr Nicotra said.
“It’s a dream I’ve had since we started.”