Four sons of media-shy billionaires David and Vicky Teoh are setting up an incubator and co-working space called PS1875 in a heritage building in the Sydney CBD.
Ben Hurley of BRW reports that Shane, Jack, Bob and John Teoh paid $4.75 million for the 1875-built former public school in September 2011, through their private company Cessleigh Pty Ltd.
The brothers, whose parents founded TPG Telecom, operate online eyewear and furniture businesses from the building and hope to share the space with other online retailers seeking a bricks and mortar presence.
More on BRW.
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