Iconic Lygon Street Freehold Leased to Longstanding (40+ Years) Hospitality Institution
Stonebridge Property Group is pleased to present for sale 238 Lygon Street, Carlton, under instructions from liquidators Dye & Co.
The key highlights of the opportunity include:
- A Lygon Street freehold with unrivalled fundamentals, tenanted by a stalwart of Carlton's hospitality industry - La Spaghettata
- La Spaghettata 100% lease the property on a renewed 5-year term with 2 further 5-year options through to 2038
- The longstanding hospitality tenant has been trading out of the property for over 40 years, establishing itself as one of Melbourne's most well known and successful Italian restaurants
- The building enjoys prominent Lygon Street frontage providing valuable retail exposure and allowing advantageous outdoor seating
- Providing annual income of $88,000* + GST
- Strategically positioned 256 sqm* landholding with highly accessible rear lane access and on-title parking
- The double level terrace spans 243 sqm* with expansive open plan floor plates perfectly suited to hospitality
- Ideally positioned in the world famous Lygon Street retail precinct, home to a multitude of national and international retailers in addition to some of Melbourne’s most recognised hospitality venues
- The precinct’s 24/7 retail activity is underpinned by its proximity to the Melbourne CBD (650 m*) and nearby education institutions (The University of Melbourne and RMIT)
238 Lygon Street, Carlton is offered for sale via Public On-site Auction on Wednesday 5th June 2024 at 2:30pm (AEST). To obtain further information or to arrange an inspection, please contact the exclusive selling agents, Stonebridge Property Group.
Nic Hage
0448 782 594
Rorey James
0439 400 081
Ian Lam
0416 621 859
* Approximately
Property Code: 948