Restaurant

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Melbourne-based restaurant chain Dosa Hut have opened their first Gold Coast store after securing space at a convenience centre located in a central part of the region. 
The chain will occupy a 165 square metre tenancy at Crestwood Plaza in Molendinar after signing a five-year lease with options in a deal negotiated by Tanaka Jabangwe, Knight Frank’s Associate Director of Retail Leasing. 
Jabangwe said Dosa Hut had been looking for the right opportunity to open a store in the growing Gold Coast region for some time before leasing the Crestwood Plaza space.
“The tenant had been wanting to establish a presence on the Gold Coast for some time but was looking for the right space and this Molendinar shopfront ticked all the boxes,” he said. 
“Dosa Hut were seeking a central location in a suburban catchment with ease of access to major road networks, and Crestwood Plaza fit the bill on every aspect. 
“The convenience centre is situated on Olsen Avenue, which is a very busy thoroughfare with plenty of traffic passing estimated at circa 57,000 cars daily, which offered great exposure for the restaurant.” 
Dosa Hut, which serves south Indian cuisine, already operates 19 restaurants across Victoria, New South Wales, the Australian Capital Territory and Queensland, but the Molendinar restaurant is the first for the Gold Coast. 
“Crestwood Plaza offered a perceived geographical centre to service both the northern catchment and parts of southern Gold Coast with ease,” a spokesperson said. 
“We are confident in our food and believe the Gold Coast will appreciate the quality, authentic Indian food we have on offer.”
Located in the heart of a major Gold Coast growth district in Molendinar, Crestwood Plaza convenience centre fronts the booming Crestwood Heights residential estate, is adjacent to Bunnings Warehouse and opposite Griffith University’s future development land. 
The centre features over 190 car parks, a full line Supa IGA as anchor tenant and 17 other specialty stores. 
With limited vacancies remaining in Crestwood Plaza, Knight Frank are currently seeking interest from additional food and beverage establishments, health and fitness groups, allied health and/or medical. 
Jabangwe said the Gold Coast retail market continued to be largely driven by demand from local and interstate food and beverage operators. 
“After the Commonwealth Games we’ve seen an increase in enquiry from established operators seeking high profile positions across the city,” he said. 
“There has also been an increase in Asian cuisine offerings and national chains in strategic shopping centre positions particularly through the northern suburbs of the Gold Coast. 
“High-end food and beverage offerings have predominantly been focused around the traditional premium precincts of Surfers Paradise and Broadbeach with a surge in demand for southern Gold Coast positions between Mermaid Beach through to Palm Beach, but there is also plenty of demand from other operators for other suburban areas of the Gold Coast. 
“The suburban catchment offers a less seasonal serviceable population as it alleviates the predominant dependence on tourism spend as perceived in areas such as Surfers Paradise and Broadbeach. 
“Dosa Hut believe local community engagement is paramount to their success and this was one of the key reasons why the first store had to be in a central suburban area.”
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Dosa Hut restaurant chain opens first Gold Coast store in Molendinar

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The ground floor commercial premises on Bondi's Beach House Lane is up for lease. 
The space sits on the <a href="https://www.realcommercial.com.au/property-retail-nsw-bondi+beach-503091622" target="_blank">laneway off Campbell Parade</a>.
It was the former home of Skinnys Bar and Grill, who closed their doors last year because it wasn't making enough money.
Skinnys owner James McGovern admitted to not paying staff.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/10/Skinnys2.jpg" alt="">
Next door to the Bondi Hotel, the fully fitted bar and restaurant has a kitchen, grease trap, exhaust and storage facilities.
It spans 190 sqm which includes 27 sqm basement storage and outdoor seating.
The lease through Metro Commercial Double Bay agents Nik Simonovic and Zorick Tolstan comes with a liquor licence in place.
They're seeking a $175k + per annum tenant.
 
 
  
 
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Former home of Skinnys at Bondi Beach for lease

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Following success on New South Wales’ Central Coast, The Grand Pavilion Indian restaurant has established a flagship fourth location in Sydney’s CBD. 
The restaurant has leased 315 square metres of strata retail space at 261 George Street. 
CBRE’s James Beerworth and Leif Olson negotiated the five-year lease deal at $300,000 per annum + GST, which equates to circa $952 per square metre. 
“The Grand Pavilion has opened its new central location, following a $1 million fitout, in answer to Sydney’s under-representation of premium Indian cuisine in the CBD,” Beerworth said.  
“The space offers an accessible George Street location, with proximity to Sydney’s commercial and hotel market, George Street light rail, Australia Square, the Met Centre and Wynyard Station.”
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Grand Pavilion Fine Indian restaurant chain expands into Sydney CBD

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EXPERT OBSERVER
Cutting-edge food and design concepts are rapidly infiltrating shopping centres across Australia, with several landlords investing in premium dining and entertainment experiences to try to tap into the millennials’ mindset, according to one industry expert. Savills Australia’s director for Retail Investments, Rick Silberman, tells us how our love for eating out is changing the face of retail.
The new drug of choice for shopping centre owners
Who doesn’t love eating? It’s undoubtedly one of our favourite things to do – if not the favourite. It changes moods instantly, uplifts us when we are down, and is a great way to socialise and experience the joys of life. Astute shopping centre landlords across the country are rapidly acknowledging the changing climate of retail today and are turning to food and entertainment concepts to keep ahead in the retail game. Ultimately in doing so, they can curb the increasing levels of vacancy (and reduce forthcoming vacancies) that they could encounter in their tenant mixes. 
The challenge
It is no secret that some retailers are doing it tough. Australian household debt is at the highest level on record and one of the highest levels globally, which is in addition to ongoing levels of low wages growth. The balance between consumer spending and disposable income remains difficult. Top retailers and proactive landlords are working together to ensure the retail experience in shopping centres today is vibrant, valuable, and attractive. Customer attraction today is at the centre of every successful shopping centre. No matter what the statistics show about low levels of consumer confidence, many of us place a priority on ensuring enough disposable income for a quality eating experience – heading out with family and friends, and indulging in some of the finest culinary options our cities have to offer, has become Australia’s favourite pastime. We are fortunate enough to have some of the best chefs, cafés and restaurants in the world. After all, what’s another $30 or $50 going to do when you can create a memorable experience with family or friends? And it’s that exact consumer experience and millennial mindset that shopping centre landlords are tapping into, in a creative bid to increase foot traffic levels and ultimately ensure the continued growth of their centres. 
The experience
So, what does this retail experience look like? A food court is not a new phenomenon. However, the traditional food court as we know it will eventually transform into a premium dining precinct with a “no holds barred” approach that includes world-renowned restaurant brands based on a “build it and they will come” mentality. The larger regional shopping centres are already doing this. I was recently travelling in Los Angeles and visited three major shopping centres. It was a real eye-opener to see what is possible and how retail is changing. Simply put, anything is possible. I also believe that we are only seeing the tip of the iceberg in shopping centre design. The retail shopping experience today is moving to new levels, with the customer at the centre of all tenant mix choices and designs. The Grove shopping centre in LA has a tram route running through the middle of it with a dedicated food market, while Westfield Century City has one of the most captivating food precincts I have seen, with state-of-the-art design and quality food offerings. It’s no wonder that these shopping centres are absolutely bustling with an unmatched vibe to anything I have experienced in Australia. These landlords are enhancing the customer experience through a focused effort on the dining experience, coupled with innovative property design, in the knowledge that it will increase dwell time and ultimately boost retailer sales.
The future
I was recently attending a meeting with a representative of one of Australia’s major listed shopping centre owners. I asked him about his thoughts on the integration of major dedicated food precincts within his centres and his response was, “You can’t fill a whole centre with just food”, to which I questioned, “Why not?” He may have been right, however; in the current climate, everything should be tabled and explored. Ten or so years ago, it would have been impossible to think that any landlord could open a major shopping centre without a Myer or David Jones as its anchor. Fast forward to now and those same landlords are forecasting how they may need to reposition or resize these big boxes that once upon a time played an integral role in their tenancy mix. The truth of the matter is that no one knows exactly what a shopping centre is going to look like in another 10 or 20 years but one thing we can all agree on is that it will be different. The shopping centre landscape is changing at an incredibly rapid rate and landlords must continually evolve new ideas, be creative and, most importantly, be prepared to take a risk.
Rick Silberman is a director at Savills Australia and New Zealand.
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How our love for eating out is changing the face of retail: Savills Rick Silberman

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The so-called bird nest building - one of the most striking buildings in Sydney's newest CBD precinct Barangaroo - has hit the market with a price guide of $35 million.
CBRE director James Parry said the three storey circular was a trophy asset likely to be bought by high net worth individuals, both locally and internationally.
“Located in the buzzing Barangaroo South precinct, facing the harbour and enjoying uninterrupted views from every floor, 35 Barangaroo Avenue represents an opportunity to invest in a well-positioned iconic asset,” Parry said.
It has been listed by Lendlease, who have developed the precinct of Barangaroo which will be home to more than 23,000 workers and residents.
In 2014, chef Matt Moran announced he would open a three-storey restaurant in the harbour-front Barangaroo precinct, known as Barangaroo House.
The restaurant sits in a striking building designed by architects Collins and Turner. 
The charcoal building will resemble several stacked shallow bowls, one of about 50 food and beverage outlets at Barangaroo South.
The restaurant will have a casual lower floor, a more premium restaurant on the middle floor along with a rooftop garden bar.
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Barangaroo's bird nest building listed at $35 million

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Vietnamese food truck Nuoc Mama will open its first bricks and mortar site on Sydney Road in Brunswick.
Situated at Shop 2, 623 - 625 Sydney Road, the 160 sqm ground floor space is at the base of the 29-apartment Cannatella mixed-use development by Westlock Pty Ltd.
Fitzroys Agency Executive, Ervin Niyaz negotiated the 4+4+4-year lease to Tian Con and Co. Pty Ltd, trading as Nuoc Mama, at $47,000 per annum net.
“Brunswick is renowned for its eclectic lifestyle and hospitality offering, and Nuoc Mama will be able to capitalise on the strong following it has generated while adding a unique offering to this section of Sydney Road,” Niyaz said.
According to realestate,com.au listing views, Brunswick remains one of Melbourne’s most sought-after apartment markets in 2019.
There are approximately 1,500 apartments in the area that have either been recently completed or are in various stages of planning and construction.
According to Fitzroys’ Walk the Strip report, retail vacancies along the stretch of Sydney Road from Victoria Street up to Moreland Road came down from 10.2% in 2017 to 6.5% last year.
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Vietnamese food truck operator open eatery in Brunswick

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Children of celebrity chef Jacques Reymond, the proprietors of South Yarra's Bistro Gitan and Prahran’s L'Hotel Gitan, have signed a lease to establish a third restaurant.
Located in North Yarra, Cremorne, this new eatery will occupy the whole ground floor of Cobild Construction’s new eight level office development at 9-11 Cremorne Street.
Teska Carson‘s Luke Bisset and Matthew Feld brokered the lease.
Mr Bisset said Nathalie, Antoine, and Edouard Reymond (pictured alongside their father) would split the 345 sqm tenancy into two spaces a 35-seat European focused wine bar and a 75-seat bistro.
Antoine Reymond says the yet-to-be-named restaurant will be slightly different to either of the Gitans. "It will be a little more European as opposed to French-focused."
SJB Interiors, who did work on the Gitans, will design both spaces. "It'll be French new-wave," says Antoine. "There's a gorgeous, heritage-listed brick facade, a terrace out the front, and nice high ceilings inside."
The family hopes to open by early June.
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Jaques Reymond family to open new restaurant in Cremorne

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Sydney’s "cult" chicken and burger eatery Chargrill Charlie’s has chosen Camberwell for its Melbourne debut.
Fitzroys' agent Chris James negotiated the long-term 10-year lease for <a href="https://www.realcommercial.com.au/property-retail-vic-camberwell-502644570" target="_blank">10 Prospect Hill Road</a> (pictured above) at $228,000 per annum net.
The building has a 365 sqm ground floor area and sizeable 58 metres of frontage, positioned near Woolworths, Target and Aldi.
Chargrill Charlie’s has operated for nearly 30 years and has 10 locations across Sydney including Woollahra, Mosman and Rose Bay.
James said the long-term lease secured for the prime Camberwell retail space shows the confidence in the area’s revitalisation held by experienced and established operators, spurred by a strong residential development pipeline.
“This large, flexible space, located close to Woolworths supermarket and with frontage to the Market Place car park, attracted strong enquiry from a range of operators, particularly from the hospitality industry,” he said.
James said there has been growing enquiry in the inner-east as developments such as Camberwell Village, Hawthorn Park and others nearby come online.
He also recently negotiated the lease of <a href="https://www.realcommercial.com.au/property-retail-vic-camberwell-502538406" target="_blank">670 Burke Road</a>, just metres away on the corner of Burke Road and Prospect Hill Road, to optometry group EyeQ.
Similarly, the lease was a long-term deal at 7+5+5 years for the 87 sqm ground floor space, at $85,000 per annum net.
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Chargrill Charlie’s to open in Melbourne

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An undisclosed international and local restaurateur has signed a lease for 349-351 Flinders Lane, Melbourne with plans for a Japanese fusion style offering.
The deal for the 690 square metre ground floor and basement areas which have been operating as Bluestone Bar &amp; Restaurant in the heritage listed building since 2000 was brokered by Teska Carson agent, Richard Munday.
The new tenant will pay $216,500 per annum and plans to refurbish much of the property and offer a menu of Japanese fusion.
"Melbourne has an excellent reputation for its international laneway dining experience and Flinders Lane is one of the most highly sought after with a consistent trading pattern established over several decades and offering very positive growth prospects based on upward trends in both population and tourism,’’ Munday said.
The lessor is a Melbourne based private investor.
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Restaurateur leases Flinders Lane premises with Japanese fusion plans

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The Collingwood home of hospitality identity Shane Delia’s Biggie Smalls eatery has sold for $3.58 million, setting a new record for a single-fronted retail building in the suburb.
Chris Kombi and Terence Yeh of Fitzroys negotiated the sale of <a href="https://www.commercialrealestate.com.au/property/86-smith-street-collingwood-vic-3066-2014291572" target="_blank">86 Smith Street</a> at a land rate of $19,456 per square metre and a 3.51% yield.
The fully refurbished, three-level building of 267 square metres is leased to Biggie Smalls on the ground and basement levels on a 7x7x7-year deal, while the first floor office is also subject to a secure tenancy of 6x7x7 years.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/18/smalls3.jpg" alt="">
Kombi said the property sold to an interstate Chinese investor after attracting interest from local and offshore buyers.
“The renewal of the inner north has seen a boom in trendy medium and high-density residential developments and warehouse-to-office conversion projects along and around Smith Street, attracting more students and younger professionals and enhancing the precinct’s reputation as one of Melbourne’s leading eclectic retail, food and beverage, and nightlife offerings,” he said.
“Collingwood’s industrial roots have provided Smith Street with unique long-term growth prospects, offering a substantial residential and office development pipeline whilst retaining much of its heritage and character, and supporting the exclusive mix of retail and hospitality operators.”
Yeh said the recent acquisition of a 1,000 square metre-plus site by Tribe Hotels Group for a flagship offering just metres away from Smith Street demonstrated that the area’s reputation had grown beyond a thriving inner-city cultural hotspot among locals, to a must-visit location for interstate and international tourists wanting to experience Melbourne.
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