iProsperity Group, an Australian-based advisory firm, has partnered with the China-based Bridge Capital, to buy the 333 Kent Street office tower for the symbolic price of $88,888,888 from Maville Bay Pty Ltd.

Eight is considered the luckiest number in Chinese culture. The main reason has to do with the pronunciation of the word for the number eight in China. It is pronounced "ba" and sounds like the word for prosperity which is pronounced "fa".

In Sydney, residential conversions and stock withdrawals for the metro rail project are pushing rents up.

The new owners of 333 Kent Street will use the development approval to redevelop the property into a high-end hotel and residential building that will capitalise on the views across Darling Harbour. The distinctive heritage arch way facade will be retained in the redevelopment.

It is in the heart of Sydney's busy Western Corridor and will benefit from the completion of Barangaroo and the International Convention Centre (ICC).