Rockpool

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<p>The heritage space leased to the Rockpool Dining Group on Sydney's Bridge Street is up for sale again, this time with expectations of about $11 million expected for its March 15 tender.</p>
<p>It was bought by the I-Fung family investment vehicle for $8.5 million in 2015.</p>
<p>It is back for sale through Knight Frank's Andy Hu and JLL's Steven Tsang and James Aroney.</p>
<p>The property was previously home to a Rockpool franchise called Eleven Bridge, it is now rebranded as a high-end Chinese restaurant Jade Temple.</p>
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<p>The 490sq m property at Lot 2, 7-11 Bridge Street is in the historic Burns Philp &amp; Co building. The heritage-listed building with soaring ceilings also has a basement, ground level, mezzanine level and three upper levels of commercial space.</p>
<p><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/2018/2/7/perry2.jpg" alt=""></p>
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<div class="related-quotes section">The lease to Rockpool Dining Group is in place until July 2023, with 5 plus 5 options.</div>
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<div class="related-quotes section">“The city’s current infrastructure upgrades surrounding the Burns Philp &amp; Co. building is set to benefit from an unprecedented level of development in the Sydney CBD, including the new Light Rail, George Street pedestrianisation and the underground Sydney Metro Rail," Hu said.</div>
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<p class="x_MsoNormal">"These developments will improve connectivity and increase patrons and diners in the immediate location due to the increased number of CBD-based workers.”</p>
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Jade Temple, Bridge Street Sydney premises listed in quick flip

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<p>Neil Perry has sold his Rockpool restaurant empire to private equity-backed Urban Purveyor Group, which is heading towards a $1 billion IPO.</p>
<p>The deal creates a business with 47 venues, including the Burger Project and the Rockpool Bar &amp; Grill restaurants in Sydney, Melbourne and Perth.</p>
<p>The new company will be known as Rockpool Dining Group. UPG says the 15 dining brands, with some 3000 employees in four states, comes with a turnover of more than $350 million.</p>
<p>UPG’s Tom Pash predicted the new entity would grow from 47 venues to 80 within the next year.</p>
<p>The combined group now includes Rockpool Bar &amp; Grill, Saké Restaurant &amp; Bar, Spice Temple, Fratelli Fresh, The Cut Steakhouse, Rosetta, The Bavarian, Munich Brauhaus and Burger Project, which launched its seventh outlet last week.</p>
<p>Perry retains his flagship restaurant, 11 Bridge St (recently rebranded from Rockpool) along withand David Jones Qantas consultancy.</p>
<p>The price of the deal has not been disclosed, but industry sources speculate it may be worth up to $60 million. </p>
<p>Perry’s backer was the US-based David Doyle, who helped finance Rockpool Bar &amp; Grill when it first launched a decade ago.</p>
<p>The funding of the deal is through Quadrant Private Equity.</p>
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