Doughnut Time hits a sweet spot in Sydney's Manly
Doughnut Time has leased a shop in Manly Corso on Sydney’s North Shore, as the confectionary chain continues to expand its footprint across Australia.
Doughnut Time signed a five-year lease on the hole-in-the-wall retail shop at 2A The Corso, which comprises 40 sqm retail space and a 24 sqm basement area.
The rental is $125,000 net per annum and the deal reflects a rate of $3,850 per square metre.
The Corso enjoys a high volume of foot traffic from the Manly ferry.
CBRE’s Toby Silk brokered the lease on behalf of a private lessor.
“The Corso is one of the most desirable locations for retailers and eateries on Sydney’s North Shore, capitalising on the some eight million visitors that travel to Manly each year,” said Silk.
The deal follows Doughnut Time’s recent expansion from a small hole-in-the-wall store in Brisbane Fortitude Valley some 16 months ago to more than 27 stores, with outlets in Brisbane, Sydney, Melbourne and the Gold Coast.
The deal is one of a number recent deals in Manly’s commercial market transacted by CBRE, with a recent office lease in Rialto Lane further evidencing the area’s growing appeal.
Behaviour design experts Tobias & Tobias has committed to a four-year term on a brand new office space on the second level of 29 Rialto Lane.
Comprising a net lettable area of 129 sqm, the property was rented out for $115,000 per annum, at $891 per sqm.
