Food Retailing Appetite Strengthens
// Monday, 21 July 2014
FOOD retailers continue to flock to Melbourne's CBD.
Conquest Dowlings recently leased a 230 sqm restaurant/cafe, which formed part of the ground floor at 106 A'Beckett St Melbourne.
The space has been leased to I Love Dumplings, which has three existing restaurants in the Melbourne metropolitan area, two in Flemington and one in Richmond. The rental equates to $130,000 p.a. net and is leased on a 5 x 5 x 5 year lease.
Conquest Dowlings director Luke Conquest said the property is ideally located within the Unilodge student accommodation building and in a significant growth area of the CBD, between Elizabeth and Queen streets and within close proximity to Melbourne Central, RMIT, the University of Melbourne, Taylors College and Monash College.
"This street has gradually become a hub for new residential development, which resulted in strong enquiry from restaurant operators looking to maximise clientele from both residential, students and neighbouring business' alike.
"The restaurant came fitted out with a full kitchen and seating for 100 people, providing the tenant with massive set up savings, and the ability to move straight in with minimal works," Conquest said.
Source: Property Review Australia