Offered to the Market for the First Time in 35 years, this freehold restaurant, presents an opportunity to acquire both a high street retail asset and a high density development site.
Occupied by Sorrento restaurant since 1982 with a lease to 30 June 2022 and located within the beating heart of Northbridge, only metres from the Northbridge Piazza, Russell Square and the Northbridge Cultural Precinct.
Expression of Interest Closing Tuesday, 9 March 2021 at 4:30pm AWST (Unless Sold Prior)
Development highlights include:
- 304sqm* of land
- 15 metre frontage
- 4:1 plot ratio (with additional plot ratio bonuses available)
Restaurant features include:
- 275sqm* of building (approx.)
- Alfresco licence
- Approximately 140 person capacity (including alfresco)
- Restaurant Liquor Licence
- Grease Trap
- Exhaust
Lease details:
- $129,792pa plus outgoings & G.S.T. reduced to $78,000 during the COVID-19 emergency
period
- Lease expires 30th June 2022 with no options
For further questions or to arrange an inspection contact:
Brett Wilkins
Ray White Commercial (WA)
M: 0478 611 168
E: brett.wilkins@raywhite.com
Stephen Harrison
Ray White Commercial (WA)
M: 0421 622 777
E: stephen.harrison@raywhite.com
