This article is from the Australian Property Journal archive
THE upgraded home of mini-golf smash-hit Holey Moley – below the iconic Coca-Cola sign in Potts Point – has hit the market for the second time in 12 months.
Located at 82-94 Darlinghurst Road, the property is now also home to augmented darts venue La Di Darts. Both are part of Funlab, which is backed by TPG Capital, which manages over US$109 billion in assets.
The property has a gross floor area of 1,174 sqm, representing one of the largest floor plates on the city fringe.
Colliers agents Miron Solomons and Matt Pontey and Knight Frank’s Jessen O’Sullivan and Andrew Harford took the property to market in April last year with expectations of about $16 million. They have been appointed again to sell the property, as well as Knight Frank’s Dominic Ong.
“With a long-term lease established and the tenant, Funlab, having recently undertaken a substantial refurbishment and renovation of the premises, this will undoubtedly provide investors with comfort in the strength of the covenant and their long-term commitment to this iconic entertainment precinct,” Pontey added.
Founded in 2001, Holey Moley has 32 venues across Australia, New Zealand and Singapore. It was transformed into a reality television show in Australia that featured contestants competing against each other in a series of head-to-head sudden death matchups on a supersized miniature golf obstacle course.
The Potts Point site is just 50 metres from Kings Cross train station and has immediate access to William Street, while Woolloomooloo wharf, Surry Hills and Edgecliff are all a short distance away.
“Representing one of the largest single floorplates in the city fringe, this is an incredible opportunity within a unique precinct that is continuing its gentrification,” Solomons said.
“With the nearby Omnia development now complete as well as the launch of the sales campaign for Iris Capital’s Queensgate at the site of the former Bourbon, there has never been a better time to invest in the precinct.”
The property is sale via expressions of interest campaign closing on 4th May.
