Colliers International to sell iconic home of popular Chinese restaurant
A flagship building in Melbourne’s popular and tightly held Chinatown precinct is expected to generate a hot contest amidst an influx of offshore interest.
Colliers International’s Oliver Hay, Daniel Wolman and David Sia have been appointed to sell an iconic retail building at 131 Little Bourke Street at the heart of Melbourne’s Chinatown precinct on behalf of a private Chinese syndicate.
The four-storey building is fully leased to the popular Shark Fin House restaurant, owned and run by the Shark Fin Group on a long term lease.
“This is a genuinely rare opportunity to purchase one of Melbourne’s most famous and highly sought-after assets located within the tightly held Chinatown precinct,” Mr Hay said.
“Shark Fin House is the flagship restaurant for the Shark Fin Group, a premier Chinese restaurant operator with four locations across Melbourne. With more than 35 years in the industry, Shark Fin Group is an institutional staple on Melbourne’s famous Chinese culinary scene."
The landmark building is situated between Exhibition and Russell Streets at the heart of Melbourne’s bustling Chinatown district. It offers a net lettable area of approximately 930sqm, with three street frontages.
“This is one of the most prominent Chinatown retail assets to hit the market in many years and will bring an influx of global interest, particularly from China, Singapore and Malaysia,” Mr Sia said.
“With a further drop in interest rates, competition for prime CBD assets – particularly in tightly held Chinatown – will continue to increase, as these opportunities seldom come to the market.
“We are already fielding strong interest from Asia.”