Tightly held Vietnamese restaurant block up for grabs in Cabramatta for $3.75 million plus

A series of eight shops in Cabramatta, in Sydney’s outer west, have been listed for sale for the first time in 50 years.

The 553 square metre freehold block in the predominantly Asian suburb, is expected to sell for more than $3.75 million plus the GST.

The property consists of shop 206, 207 and 208 Railway Parade and Shops 7 to 17 John Street.

The tenancies are a Happy Cup franchise, a convenience store, a Vodafone outlet, a boot maker, Western Crusty Bread, Pho Viet Restaurant and hair salon.

There is also a vacant one-bedroom flat above the shops.

All the shops are occupied but the tenants are on expired leases.

According to the 2011 census the suburb 32.6% of residents there were born in Vietnam, 9.4% in Cambodia and 5.2% in China, though 27.7% had Chinese heritage. Some 92.9% of respondents had both parents born overseas.

In 2006 31.2% of census respondents were born in Vietnam, 9% in Cambodia and 5.5% in China, though 15.1% spoke only Cantonese at home and 4.9% spoke Mandarin.

It is being sold by Bookallil Investments (Cabramatta) Pty Ltd.

The current gross annual rental (excluding the vacant flat) is around $300,000 plus GST.

It goes to auction on Tuesday June 25. It is being sold by Raine & Horne agent Michael Laing.

Alistair Walsh

Alistair Walsh

Deutsche Welle online reporter

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