The Nick Politis Chopard building at 119 King Street cost the Sydney Roosters chairman about $19 million in April 2026. It stands on a site of just 54 square metres.
The Nick Politis Chopard deal drew fresh attention on social media in October, after the Roosters won the 2026 NRL premiership. It also puts a sharp number on a small piece of land. Each square metre of the site works out at roughly $350,000.
Inside the Nick Politis Chopard deal
Nick Politis bought 119 King Street for about $19 million, Real Estate Source reported on 22 April 2026. The building stands next to Pitt Street Mall, in the heart of the city’s luxury fashion strip.
The block itself is tiny. Specifically, the land covers about 54 square metres. By comparison, the five floors add up to about 210 square metres, the X Commercial sale listing shows. Three levels serve as shop floor, one holds staff amenities and the top level houses an executive suite.
Swiss jeweller and watchmaker Chopard leases the whole building until December 2031. The lease includes fixed annual rent rises, and the listing put the net income at $778,422 a year. As a result, the Nick Politis Chopard price reflects a yield of about four per cent.
A sale by the Australian Federal Police
The seller was unusual. The Australian Federal Police (AFP) sold the property after seizing it under proceeds-of-crime laws, Real Estate Source reported.
Tara Global Pty Ltd had paid $21 million for the building in 2022. However, authorities restrained the property the following year under Operation Avarus-Midas. The company was linked to that investigation. So the Nick Politis Chopard sale price came in about $2 million below the 2022 figure. Overall, the buyer secured a prime retail asset at a discount to its last trade.
Chris Johnson and John Bowie Wilson of X Commercial handled the Nick Politis Chopard sale, which X Commercial offered by public auction.
Pubs, car yards and a Brisbane landmark
The King Street building is only one part of a busy property run. In November 2025, Politis paid about $50 million for the historic Caxton Hotel in Brisbane. He made that purchase through Eumundi Group, in which he holds a half stake. Greek City Times reported that purchase at the time.
Then, in late April 2026, Politis and Lewis Hotels owner Peter Ashelford sold Treetops Tavern on the Gold Coast. The Burleigh Waters hotel fetched about $50 million. The partners had paid $20 million for it about a decade earlier.
Earlier, Politis also sold a historic Brisbane CBD commercial building to National Retail Group, owned by Chemist Warehouse executives. In addition, the 2026 Financial Review Rich List ranked him No. 71 with $3.96 billion, as Greek City Times noted in June. Given that wealth, the Nick Politis Chopard building is a modest slice of a much larger portfolio.
From Kythira to the Roosters boardroom
Nicholas George Politis was born on the Greek island of Kythira on 25 August 1944. His family moved to Australia in the late 1940s and settled in Ipswich, Queensland. He later finished school at Ipswich Grammar and graduated from the University of Queensland in 1964.
In March 1974, Politis took charge of WFM Motors. Under the City Ford name, he built it into one of Australia’s largest Ford dealerships. Since 1976, the business has sponsored the Roosters. That deal made the club one of the first in rugby league to carry a sponsor’s name on its jersey.
Politis became Roosters chairman on 30 May 1993. Since then, the club has won five premierships, in 2002, 2013, 2018, 2019 and 2026. Most recently, the Roosters beat the Newcastle Knights 19–18 at Accor Stadium on 4 October 2026, as the Sydney Morning Herald reported.
During that time, Politis also received national honours. In 2014, he became a Member of the Order of Australia (AM). The award recognised his significant service to rugby league as an administrator. He is also a member of the Greek-Australian Sports Hall of Fame.
His ties to the Greek community in Sydney remain strong. In June 2026, the Hellenic Club Sydney appointed him as its patron.
For now, the Nick Politis Chopard building keeps a famous tenant on a long lease until 2031. Five premierships and 54 square metres of King Street sum up two sides of the same career.
Source: Real Estate Source
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