Lillie Espresso Eatery in Melbourne's Prahran on the market
A new strata retail space in one of Melbourne’s eating hotspots is up for auction on October 27 through Colliers International.
The 18 & 20 Chatham Street Prahran space is leased to Lillie Espresso Eatery, the operators from the team behind Denis the Menace, St Edmonds and the Grange Road Egg shop.
They have an eight-year lease for the shop. It earns a net income of $140,608 p.a.
“Situated in the heart of the thriving Chapel Street retail precinct, these brand-new ground floor retail premises represent an exceptional opportunity for all levels of investors,” said listing agent Jeremy Gruzewski of Colliers International. He is selling the property with his colleague Ben Baines.
“Prahran is renowned for being one of Melbourne’s most in demand eating precincts, and is supported by a high number of residents and businesses who take advantage of the immense variety of retail.”
The property is situated next to the Cato Street car park, which is due to undergo a $60 million redevelopment, which once completed will deliver more than 9,000 sqm of open spaces.
“An investment right opposite this open-air plaza is sure to thrive now, and well into the future, ensuring your investment dollar will grow,” said Ben Baines.
Prahran is in one of Melbourne’s sought-after suburbs, situated in the heart of the Chapel Street retail/ entertainment precinct approximately 4 kilometres South East of the Melbourne CBD.
