After being used for decades as a dance hall and a wedding venue, the iconic Albert Palais building will be home to GGC Life church who will use the building as a place of worship.
Located at 289-295 Parramatta Road, Leichhardt, NSW, the 822sqm property sold for $11 million with a two-year delayed settlement combined with a lease at $250,000 per annum.
Ray White Commercial – Sydney City Fringe director Kristian Morris marketed the property, and said the property received 100 enquiries 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.
“We are so happy to call the Albert Palais our new home.”