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24 May 2007
Cobb & Co court fetches $2.6m
The historic Cobb and Co Court building at the corner of Market and Perry Streets Mudgee has sold for $2.6 million with Property Shop real estate agent Hugh Bateman saying it appeared that the current tenants would be staying put. Mr Bateman said the new owners, who hail from the North Coast, are "very impressed with the current tenant mix".
The anchor tenant is Scott Tracey's The Wineglass Bar and Grill and Cobb and Co Court Boutique Hotel but the building also houses Maxine Julius Hairdresser and Well Heeled.
In particular, Mr Bateman said the new owners were impressed with Mr Tracey's entrepreneurialism in combining a restaurant and boutique hotel.
"So it is good for the business owners and the buyers," he said.
The building was owned by Sydney based Mudgeecourt Holdings and was due to be auctioned next week but was sold ahead of auction for a 7.5 per cent return of income1 .