Home to Fratelli Fresh hits the market.
The home to Fratelli Fresh Parlamento in the heart of the Sydney CBD looks set to sell later this month when the basement at 229 Macquarie Street goes to auction.
In 2014, Fratelli Fresh signed a 10 year lease with two five year options for the 436 sqm retail space, which is positioned just seconds from Martin Place, Parliament House and the Law Courts. Once home to the Nippon Club, Australia’s only Japanese RSL club
The property is for sale through Miron Solomons and Jordan Lee of Colliers International on behalf of Monash Private Capital.
According to Mr. Lee “Monash Private Capital are looking to take advantage of the lack of supply for prime CBD assets with strong covenants such as Fratelli Fresh.
“Considering the tenant’s proven track record and the long lease in place, this property will tick a lot of boxes for investors looking to acquire a quality CBD asset” he said.
According to Mr. Solomons “Fratelli Fresh was recently acquired by renowned hospitality operators Urban Purveyor Group and believes hospitality offerings will continue to be in hot demand across the city; following the recent offering of Rockpool Bar & Grill and Spice Temple which attracted international interest this year”.
Lot 1, 229 Macquarie Street Sydney will go to auction through Colliers International on Thursday 26 May 2016 at 10.30am with a price guide of circa $5.5million plus.