McGrath wins Millers Point property tender

Company News

by David Chau

McGrath Limited (ASX:MEA) has been appointed by Property NSW as the exclusive sales agent for the next phase of the Millers Point program.

The company will market the sale of 175 properties, comprising lofts, apartments and units, estimated to be worth over $200 million.

The company’s Chief Executive, John McGrath, anticipates strong demand from a diverse section of owner-occupiers and investors who will be attracted to a rare offering within Sydney’s CBD.

Mr McGrath also says he expects the sales program to start in the second half of June 2016.

McGrath reported a net profit of $421,000 at 31 December 2015.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.