Nick Politis pays $50m for Porsche dealerships!

Larry Schlesinger, Reporter

Rich Lister and Sydney Roosters chairman Nick Politis has snapped up two Melbourne Porsche dealerships for just under $50 million, describing them as “great assets and great tenants”.

The deal for the Brighton and Doncaster Porsche centres was struck on yields of almost 6 per cent, Mr Politis said. Penske Australia, a subsidiary of global automotive giant and Fortune 500 company Penske Automotive Group, has already taken out new 12-year leases on the properties.

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