Denis Hagger to open new Toorak Village eatery
Hospitality veteran, Denis Hagger, has taken a lease within Toorak Village, the popular retail strip in Melbourne, with his landlord now listing the property for sale.
Hagger, who was behind ventures, 25 Toorak Road and Maison Maldon Gourmet Retreat, agreed terms on a three year lease with options at $45,000 per annum or $750sqm net through Teska Carson’s Luke Bisset.
The property is situated opposite Vicland Property Group’s $600 million commercial re-development of Village Way.
"The property offered an exceptional location within a highly regarded retail and commercial precinct in arguably Melbourne’s wealthiest suburb, with first rate access and exposure via the Toorak Road frontage,’’ Mr Bisset said.
Morley Commercial’s Tom Larwill, who acted for the tenant, said Mr Hagger was looking to embark on a new dine-in and takeaway venture.
"Denis is planning on opening a French style rotisserie to cater for the increased demand for high quality take away and pre-made meals,’’ Mr Larwill said
Located at 472 Toorak Road, the property comprises a 60 square metre, ground floor shop with a commercial kitchen, nearly five metres street frontage, a rear courtyard, and on-site parking.
Toorak Village has more than 270 shops and businesses including fashion boutiques, cafes, fine dining, hair and beauty salons and medical and professional services.
The 472 premises are a two-level freehold of 110sqm which is spread across the ground floor retail and first floor office/studio apartment.
It has been listed for sale, through Teska Carson, returning $45,000 per annum + GST and outgoings, and a potential total income of $80,000 per annum + GST and outgoings.
It last traded at $1,648,000 in 2018, having sold at $1.76 million six years earlier.
Hagger closed his nearby South Yarra restaurant, 25 Toorak Rd, last year, but still operates the Maison Maldon Gourmet Retreat, about 135 kilometres north west of Melbourne.
25 Toorak Road found its replacement tenant in August, having been an Omnia pop-up in the interim.
