Strathfield retail arcade built by John Symond's dad tipped to fetch $20m
A Sydney retail arcade that bears the surname of one of Australia’s most prominent businessmen has been put up for sale with expectations of $20 million.
The Symond Arcade on Churchill Street in Strathfield in the city’s inner west is named after the Lebanese father of Aussie Home Loans founder and BRW Rich Lister John Symond, who built it.
The arcade has 12 ground-floor retail shops and 14 offices on the upper level and stands on a 645-square-metre block next door to the Strathfield Plaza and across the road from the Strathfield train station.
Strathfield Partners real estate agents Harry Ahmad and Robert Pignataro will take the mall to auction on March 28 on behalf of the Freyer family, with the property being marketed as a commercial or residential development opportunity.
Property records show the Freyer family purchased the mall in 1994 for $1.9 million.
Mr Symond credits his working-class upbringing for playing a large role in his later business success.
“I went to 11 schools and that was because my parents were in the fruit business. They opened up a little fruit shop and every 12 months or so move on after building it up and making a profit,” he said a few years ago.
