99 Forbes St, Woolloomooloo

This commercial property located on the eastern fringe of the Sydney CBD was acquired through a registered managed investment scheme - Quantum Property Syndicate No.8 and commenced in June 2002. Investors had the option of acquiring an interest in Quantum Property Syndicate No.8 (a registered managed investment scheme that purchased the property) and/or units in Quantum Property Trust No.8 (an investor in the Syndicate).

The property comprises four levels and has a net lettable area of 3,663 sqm including 2 levels of carparking for 96 vehicles.

From 8 May Woolloomooloo fell under the jurisdiction of the Sydney City Council (previously South Sydney) as the SCC council extended it boundaries. We expect that this change may bring about further improvements to the surrounding areas.

The main focus of management over the next 12 months will be on obtaining a Development Application to convert the level 2 car park space into commercial office space.