Philip Wolanski's Denwol sells Glebe asset for $43M
Philip Wolanski's Denwol group has sold its Glebe Property after 2 years, and a $20M gain.
Denwol acquired the 3500sqm heritage building at 19-37 Greek Street from the Church of Scientology for $18.7 million in 2016. The Group progressed a $4M refurbishment of the asset including new glazing to the Greek Street and rear ground floor facades and the construction of 2 levels of commercial floorplace on top of the existing building.
The asset was acquired off market by United Voice who will consolidate both its NSW and National branch offices into the mezzanine and first levels of the building and will lease out the two upper levels.