Restaurateurs sought for $2 million Darlinghurst offerings
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Local Darlinghurst restaurateurs and retail investors with at least $2 million to spare are being approached as potential buyers of four shops in a new retail precinct being developed in the inner-city suburb.
The four retail sites range in size from 160 square metres to 280 square metres and are located on the high-traffic corners of Forbes and Burton streets, and Bourke and Burton streets in the heart of Darlinghurst. They are each being marketed with $2 million-plus hopes.
They are part of the $150 million 4,500-square-metre mixed-use development called Dominion being developed jointly by St Hilliers and Cbus Property, due to be completed by the end of 2012.
The retail sites are being sold by Jonathan Wilmot and Paul Wong of Wilmot Retail Property Services.
Wong says he is in discussions with several Sydney restaurant owners as either owner-occupiers or investors.
“Big restaurants are our first port of call,” Wong says.
He says there is a lot of retail on the market in the area, but none that is brand-new. “It’s quite a unique opportunity.”
The north-facing retail spaces described as “classically contemporary” are expected to draw strong trade day and night.
They are surrounded by densely populated affluent inner-city neighbourhoods, established restaurants, cafes, boutiques and galleries.
Dominion Retail is adjacent to The National Art School and within 100 metres of St Vincents Hospital, Taylor’s Square and Oxford Street.
Jonathan Wilmot believes the high-visibility spaces would be ideal for cafes, delis, bars and food service operations.
Successful nearby restaurants include Christine Manfield’s Universal, Lucio Pizzeria, Verde Restaurant & Bar, La Brasserie and The Balkan.
“Darlinghurst already has a thriving food and bar scene, but it will get a further boost when the lifestyle-savvy residents move into Dominion,” Wong says.
“These very limited retail spaces are in a brand-new, high-quality residential complex and represent a ‘blank canvas’ opportunity for a sophisticated food and beverage professional.”
Besides being suitable for eateries, the spaces are also being targeted at sites for a beauty salon, spa, art gallery, design studio, or even a boutique office.