Established tenant Must Winebar to attract investors
A securely leased commercial building on the tightly-held Beaufort Street strip is for sale through Colliers International.
Occupied by Must Winebar, one of Beaufort Street’s best known restaurants, the sale of the 394sqm character building is expected to attract strong interest from commercial property investors.
Colliers International selling agents Tim Scott and Tory Packer said the building’s central location in the popular restaurant and retail strip would be a strong lure for investors.
Located at 519 Beaufort Street in Highgate, the building occupies a 381sqm site with a 10m frontage to Beaufort Street and a rear boundary on a lane that allows vehicle access.
Mr Scott said Beaufort Street offered a high-profile address to a range of businesses and building sales on the street’s most popular stretch were limited.
“The good mix of restored character buildings, like 519 Beaufort Street, are an important part of the precinct’s appeal,” he said.
Ms Packer said the property enjoyed a busy flow of pedestrians and was surrounded by other well-known eateries and venues including The Queens, Beaufort Local, St Michael, Five Bar, Clarence’s and the Astor Theatre.
“Demand has been consistently strong for securely leased investment properties and with nearly four years left on its lease and options to renew, we are expecting a good level of interest,” Ms Packer said.
The property is owned by a private investor and will be sold by an offers to purchase campaign which closes at 2pm WST on April 5.