SOME of Australia’s most iconic online real estate could be snapped up by American corporations in a multi-million dollar package being shopped to large foreign investors.
A suite of five web domains potentially worth more than $3.5 million including Sydney.com.au, Brisbane.com.au; Melbourne.com.au and Adelaide.com.au is up for sale, with interest being especially sought from overseas companies.
Mike Robertson of Brisbane company Domain Guardians, which is brokering the sale, said no price had been set for the the domains, which were first registered almost 20 years ago, but that the package could potentially fetch upwards of $3.5 million.
The high-profile web addresses, which also include Auction.com.au, currently generate revenues of between $50,000 and $137,000 a year, with Sydney.com.au coming up as the number one Google search result for “Sydney”.
Mr Robertson said he had already received inquiries from three Australian companies, but was aiming to sell the addresses as a single package to an overseas investor.
“We’re looking to sell to mainly an overseas company, maybe a large international corporation who is a diverse player in the media, retail, real estate and tourism industries,” he said.
“Any international corporation that’s wanting to make a big power play into the Australian market and space, they would be a natural fit.”
In 2007 Melbourne.com sold for $700,000, while in America last year Colorado real estate agent Peter Niederman paid a reported “seven-figure sum” for Denver.com – a city with a population of just over 600,000.
Many other US city domain names have been acquired by large media companies: The New York Times owns Boston.com, newspaper company Media News Group owns LA.com, while NJ.com and Cleveland.com belong to Advance Publications, the owner of link-sharing website Reddit and magazine company Conde Nast.