Surry Hills home of Porteño sells
Joel RobinsonDecember 7, 2020
The longtime Cleveland Street, Surry Hills home of established restaurant Porteño is under contract.
The freehold commercial property at 358-362 Cleveland Street had been listed for sale last last year.
When it was listed earlier this year it had reported $8.5 million hopes.
Porteño now operate their events business from the space, rather than the restaurant, which is now based on Holt Street.
They have a five year x five year lease which began in February 2015 with a net rent of $378,000 + GST.
The South American-style fitout has three street frontages across its 430 sqm site.
Prime Commercial agents John Malamas and Darren Kable marketed the property which has sold for the third time in eight years.
It last traded for $6.66 million in 2016.
Joel Robinson
Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.