118 Park Street, South Melbourne, VIC 3205

Retail

For Sale $1.9million

  • Property ID: 440813
  • Floor Area: 160m²
  • Occupancy: Vacant
Unique Opportunity to Invest in a Historical Building in South Melbourne - Operating as an Indian Restaurant for 40 years

Phone enquiries - please quote property ID 32925.

This property is a unique and rare opportunity for investors or owner-occupiers looking for a commercial building with a twist. Located on Park Street in South Melbourne, this heritage building has been operating as an Indian restaurant for the past 40 years. Along with being a successful and iconic restaurant, the property also features a caretaker residence with 2 rooms.

Upon entering the property, you are greeted by a large dining room that can comfortably seat approximately 35 people. The restaurant is licensed to seat up to 43 people, providing the opportunity for growth and expansion. With its traditional Indian decor and cricket-themed ambience, the atmosphere of the restaurant is charming and inviting. The walls are adorned with memorabilia, adding to the unique character of the space.

The entire property spans over an impressive 160m2, offering ample space for both the restaurant and the caretaker residence. This combination of commercial and residential space makes it an ideal investment opportunity for buyers looking to lease the property to an Indian restaurant tenant. It also offers the possibility for a residential conversion after some renovations with the possibility of north facing sundeck STCA

The property is suitable for both investors and owner-occupiers, offering the flexibility to choose the most suitable option. It is currently not tenanted, providing the opportunity for buyers to take over and start their own business or lease it out to a new tenant STCA.

One great feature of this property is the location. It is situated on Park Street near the corner of Kingsway in South Melbourne, which is only 10 minutes away from the city center. The property is conveniently located within proximity to various amenities, making it an attractive spot for potential customers. It is a short distance from the MCG, tennis center, Clarendon Street shopping plenty of cuisine hubs within walking distance, beaches, Albert Park Lake, Grand Prix circuit, schools, St Kilda Road, the Shrine, botanic gardens, Crown casino complex, Yarra river and the NEW ANZAC METRO STATION (opening 2025) and WOOLWORTHS store (2024) next to it at the end of park st 300 meters away. This prime location offers convenience and accessibility to a wide range of buyers and investors.

With "Cricket" as its theme, this property has a unique and fascinating story behind it. The current owners have run the restaurant for 40 years, and they are now looking to retire. Their passion for Indian cuisine and cricket can be seen through the well-maintained interior and the success of the restaurant. The upstairs rooms and bathrooms were renovated 6 years ago.

Don't miss the chance on this unique opportunity to invest in a historical building in South Melbourne. Operating as an Indian Restaurant for 40 years with 2 room caretaker residence. Steps away from shops, MCG, Tennis center, and other amenities. TRANSPORT AT YOUR DOORSTEP !!!!

Enquire now! Open to inspection Tuesday to Saturday 5 pm-8.30 pm or by appointment

DISCLAIMER No Agent Business (www.noagentbusiness.com.au) is an Australian For Sale By Owner website operating since 1999. We proudly assist commercial property owners who are looking to sell or lease their own commercial property without paying any real estate commission. While every care has been taken to verify the accuracy of the details in this advertisement, the correctness cannot be guaranteed.

South Melbourne Suburb Profile

Average Advertised Price
Property Type Price (m²) Rent (m²/p.a.) Yield
Industrial $5038 $234 4.65%
Offices $6007 $538 8.96%
Retail $10395 $241 2.32%
This is the average advertised price, rent and yield for South Melbourne, VIC 3205*

Days on Market
Time between initial ad placement and the listing’s withdrawal

Days on Market data for Retail in VIC for Sale

The spread of Days on Market is summarised into 4 time-bands (or quartiles) for each segment.
Understanding market expectations is skewed towards examining changes in the shortest duration quartile (fastest 25%)

Transactions per Month

* Excludes, where applicable, GST, outgoings and incentives. Values calculated based on the prices advertised by the agencies that list their properties on Commercial Property Guide.

Property Detail Notes:

  • 3rd Party Content - The information displayed on this page is supplied by registered real estate agents and other third parties. For questions regarding the information that appears here please contact the agent that is listed.
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