Sydney Grammar's $39m expansion located next to brothel
Sydney Grammar School is known as one of the city's oldest and most coveted private boys schools and was reported to have purchased a property on Hargrave St in Darlinghurst in October.
The property is a large warehouse in Darlinghurst and the Sydney Morning Herald reported at the time that the expansion was made as part of plans to build a cutting-edge indoor sports facility and recreational space.
The multimillion-dollar site on Hargrave St had previously been used by Sony as their Australian headquarters.
However, since then it has been revealed the $39m property purchase has stirred controversy as the location of the site will make the boys' school neighbours to a functioning brothel.
MORE: Shock $2k a month bank cost exposed
The brothel – or nude massage parlour – on Hargrave St has operated under various names over the years and according to its website, runs under the current business name 'Darlinghurt Massage' or 'Sydney Baby Massage'.
The website advertises 'nude massage' and a 'roster' of 'Asian girls dressed in sexy uniforms', among other things.
Google Street View imagery taken in 2020 showed a sign and direction of how to enter 'Sydney Baby Massage'.
MORE: Aus warned: Blur your home on Google Maps
According to reporting in the Sydney Morning Herald, there had been 'a few concerned members of the school community,' about the location of the brothel within reach of the new sports facility. The schools fees are reportedly around $45,000 per year.
Previous reporting show the brothel sold for about $1.5m in 2006 and features 10 rooms.
The Daily Telegraph has reached out to Sydney Grammar School for comment.
MORE: Home reno warning Aussies shouldn't ignore
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
AU Financial Review
18 minutes ago
- AU Financial Review
Hedge fund LHC Capital profits from new bet in Dalrymple Bay
LHC Capital has made a 14 per cent return in the last three months buoyed by a strong rebound in some of the hedge fund's biggest stock bets and a timely investment in Queensland's Dalrymple Bay Infrastructure that it says is on the cusp of a re-rating. The Sydney-based short seller started buying shares in Dalrymple Bay, the world's largest metallurgical coal export terminal, after US private equity giant Brookfield Infrastructure sold down a large chunk of its stake last month.
Daily Telegraph
36 minutes ago
- Daily Telegraph
4.3 million Aussies think they can't afford to retire
An alarming number of Austalians fear they won't have enough money in super or other investments to live off once they hit retirement as housing costs chew up a growing share of their income. Polling by comparison group revealed about a fifth of Aussies said they didn't have enough money in their combined assets to fund a retirement. The Association of Superannuation Funds of Australia (ASFA) recommends $595,000 for singles and $690,000 for couples for a comfortable retirement. In contrast to these figures, Finder states the average Australian has $172,835 in super, with a median much lower at $60,037. MORE: 'Dungeon of stench': Ugly Block snub exposed This comes as much of the population continues to spend a disproportionate amount of their earnings on housing, with about one in five Aussie homeowners directing more than half of their income into mortgage repayments each month. The proportion of homeowners spending more than a third of their income on repayments was even higher, accounting for three quarters of those with a mortgage. The high mortgage expenditure means these homeowners have scant income leftover to store away for retirement. Finder revealed one in five, or 20 per cent of Aussies, believe they will have enough money to get by in retirement but will probably have to cut back on their spending. One in 10 said their super balance was too low but they will have enough in other investments. About one in four, or 27 per cent, said they were not sure if they would have enough money to survive once they they hit retirement. Finder superannuation expert Pascale Helyar-Moray said retirement may be financially out of reach for a large share of Australians. Insufficient super or savings could see millions of Aussies facing financial strain in the later years, she said. 'More and more people are worried that retirement will arrive before the money does, leaving them underprepared,' she said. Ms Helyar-Moray said some Australians assumed they will fall back on the Age Pension, but this wasn't guaranteed. Ms Helyar-Moray urged Aussies to consider playing catch-up by contributing to their super through salary sacrifice to build a bigger safety net. 'You won't be able to access your super until retirement, so it's wise to ease into it – $100 a month may not sound like much, but it can make a real impact over time.' Ms Helyar-Moray added Aussies need to make sure their super fund is not charging them excessive fees and providing good returns. 'Make sure that you aren't stuck in a poorly performing fund and check regularly that your employer is paying your 12 per cent Superannuation Guarantee contributions on time.'
News.com.au
an hour ago
- News.com.au
‘Dumb way' Australians measure their superannuation balances as expert shares how to hit $1 million by the time you retire
For many Australians, a million in super has been a dream scenario. But it was more than was really necessary. Most Aussies who are retired never even got close and are absolutely fine. But for you? The person who isn't going to retire for ages? It is possible. It's actually even likely, if you are young enough. About half of all people aged 30 will end up with a million in super. But which half? A million dollars in super might be pretty nice to have in the future. Because the cost of living keeps going up. If inflation is high enough, a million dollars might be enough to buy Weet-Bix and keep the lights on! In this story we're going to look at who has what, and who is likely to end up with a million dollars in super. And we are going to look at some amazing graphs. No more averages please When I talk about super, I give the full story. Not just the averages. Averages are, in this context, dumb. Because almost nobody is the average. Super is not like height, where we are all fairly similar and an average is meaningful. When it comes to super, some people are like lego people and some are bigger than giraffes. The following charts break super up by age group. They also break your age group into 20 groups, from the zeroes on the left (no super) to the superheroes on the right (loads of super), and everyone else in the middle, in chunks of 5 per cent. This is useful because it shows you not just the average for your age, but where you stand compared to your peers. You can find yourself in the following charts (there's one for men and one for women) 1. First find your age group, 2. Then find the tallest column that is less than your super balance. That's your column. 3. See where your column stands. If it is the tallest you're in the top 5 per cent, second tallest top 10 per cent, etc. If your bar is near the right side, you're near the top. If your bar is near the left, you're closer to the bottom. Each bar is 5 per cent of that age group. The height of the bar is the minimum dollar amount to be in that group. My super balance is just below the second bar for my age group. Which means I'm in the third group – the top 15 per cent for my age. Not too bad, not amazing. My holidays in retirement might be a week at the coast not a month of cruising the Mediterranean, but at least I should get some holidays! Where will I end up? So … who is likely to end up with a million in super? If we make some simplifying assumptions – say everyone puts in $9000 a year and gets 7 per cent returns, we see the following. The charts are the same as the ones above, but I've coloured red the people who are able to hit a million by age 60. For women, we see about 20 per cent of those aged 35 to 39 will hit a million by age 60. Those whose balances are over $120,000 now are on their way to seven figures. For women under 30, all of them can hit a million. If they put $9000 a year away for 30 more years and get 7 per cent returns the magic of compounding will get them over the line. The following charts are for men. More men aged 35 to 39 will hit a million in super by age 60 – about 30 per cent of them. Again, all men under 30 can hit a million in super by age 60. In reality not everyone under 30 now will get there by 60. People who have no super at age 30 are not likely to start saving $9000 a year. Putting $9000 a year away is a lot for a person making below average income in 2025, so that assumption is a bit dubious, on the other hand some of these people will still be working in 30 years and at that point $9000 a year won't be much. The above charts are best thought of as a simplified model of what's possible. Should you worry about your super? Obviously this is just a projection – a guess, estimate, forecast. If you get promoted to manager or act super frugal you can end up with more than the projection. If someone drops a steel beam on your head or your business goes broke, you end up with less. And if you fall in a fiery volcano the day before your 60th birthday it won't matter at all. Super works only if civilisation still exists at retirement. And the longer the time frame you're looking at the harder it is to predict the future. Eighteen year olds aren't thinking about retirement and honestly good on them. Go have fun. Also, every so often history dishes up a big financial event that crashes markets and destroys wealth. If that arrives in your last five years before retirement, a lot of your good work in saving hard can be undone. The assumption I've made – of 7 per cent returns steadily each year – could come to look ridiculously optimistic. For anyone about to retire and stressing about the cost of living in retirement there is comfort in the knowledge that the pension is going to be there. Politicians have raised the pension age to 67 but no further rises are planned. If you can stretch your working life and savings to age 67 then the pension ($1051 per fortnight for a single) will carry you afterwards, and you needn't worry about super at all!
