Hole in the Wall Cafe on Sydney's Macquarie Street listed through Savills
It's been a busy month in Sydney's hole in the wall coffee industry.
Fresh off the back of a 14 sqm hole in the wall selling on York Street, a cafe at 229 Macquarie Street has popped up for sale.
Hole in the Wall Café has been listed for sale with a secure tenant paying $60,106 per annum, with annual two per cent increases.
There are currently 11 years remaining on the lease, with six years + a six year option.
The property comprises a tiny five square metre shop front and a 38 sqm kitchen upstairs on level five where sandwiches are made.
It has been held in the same family for two generations.
Savills agents Tom Tuxworth, Nick Lower and Selin Ince are taking the commercial property under the hammer October 18, with industry sources speculating it will sell in excess of $800,000.
The agents suggest the space gets heavy foot traffic from the surrounding train stations and Law Courts of NSW.
Kim Beazley and Nick Whitlam are said to have been customers.
Lower says early interest is "incredibly strong."
The listing comes shortly after Savills secured $1.57 million for another hole in the wall coffee shop on York Street.
The sale of the Normcore Coffee premises (below) represented $112,143 per sqm, given it's small 14 sqm size.
The successful purchaser was a Sydney local who was making his first foray in to the commercial property market.
