Chinese Investors Show Interest As Sydney Opera House Site Is Handed Over To Property NSW

3 August, 2016 10:35

MERV HARRIS | Property | CONTACT

The Advocate can exclusively report this afternoon that Australia’s iconic Sydney Opera House looks to be sold to a Chinese investment conglomerate, who plan to develop the site into a harbourside apartment complex.

A spokesperson for Property NSW, Keiren Baird (23) spoke to The Betoota Advocate on the condition of anonymity.

“The handover went through this morning, those crafty Chinamen look like they’ll be paying fuck all for it too” he said.

“They are already putting on modest bids,”

“The initial value was pretty high, but Australia’s in the midst of a fucking fire sale at the moment so the highest bid has come in at around $20million”.

Alessia Maruca, aide to Treasurer Scott Morrison, said the Opera House has been quietly shopped around Asia and Europe for buyers for a number of months now, but had little interest because it was “too hollow” and lacked developmental potential.

“In the end, the Chinese conglomerate Li Yuanchao Investments bumped it up their bid to $20m – that was after Property NSW took over,”

“My understanding is that they will close it very shortly and develop it into upwards of 400 units” she said.

“They were initially resistant because even people from China are aware it’s hard work living in Sydney – who can blame them – but ultimately it was the price point that got the deal over the line. That, and the Premier’s permission to ‘do whatever they wanted’ with the site.”

Unemployed Sydney man and and Daily Telegraph reader Jamie Horton welcomed the news this morning, “Baird reckons it’s good to have more multiculturalism coming into Sydney. I don’t necessarily agree with that, but I don’t mind the Chinese” he said.

“…Lotus House down the road, their spicy chicken is the fucking bees knees”.

NSW Premier Mike Baird said that it was great news for Sydney, and welcomed more overseas investment into the capital.

“We’ve got heaps of shit we can flog off” he said.

“The Harbour Bridge, that’d be worth a bit – that comes with the e-toll. Wentworth Park obviously, there’s fuck all happening there anymore”.

“The old Darlinghurst Jail will go for a pretty penny once I can get those long-haired art students out of there”

“Probably worth looking into selling the Botanic Gardens too – couple car parks, whatever. Its up to the buyer, the heritage-listing stuff won’t be an issue.”

Another senior spokesman for Property NSW said there had been “no decision, yet” on whether or not development with adhere to the UNICEF world heritage listing.

“The vesting is consistent with the Property Asset Utilisation Taskforce report, which recommended that generic assets should be vested into Property NSW to deliver enhanced efficiencies in asset management,” he said.

“The government is conscious of the heritage significance of the site, but also of the money it will attain from bringing in partners. Bit like the decision to merge the NSW Art Gallery with Westfield.”