Restaurant

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A Hastings Street Noosa Heads investment has been sold for $1.375 million to a local diner investor.
The 194 square metre tenancy has had Montezumas restaurant as a long time tenant.
It was sold to a local investor by Ray White Commercial Noosa and Sunshine Coast North’s Paul Butler and John Petralia.
Set in Bay Village at <a href="https://www.realcommercial.com.au/property-retail-qld-noosa+heads-501607717" target="_blank">27/18 Hastings Street</a> the sale price of the first floor space represented a yield of 7.9%.
“The buyer has been a regular diner in the restaurant so was familiar with the property and the tenant, who has traded from this site for 14 years,” Paul Butler said.
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jchancellor-FAypfDUnLy

$1.375 million paid for Noosa Heads restaurant premises

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Celebrity chef Jamie Oliver has purchased six Jamie’s Italian Australian restaurants from Keystone Hospitality Group and will travel to Sydney in May to meet suppliers and launch a new menu.
According to a report in the Daily Telegraph, Jamie Oliver said its a happy ending for the restaurant portfolio.
“This is a process that I’ve never been through so it’s all very new, but it’s a really happy ending," he said.
"I wish I could have done it sooner but we got there and it’s safe to say that every cloud has a silver lining."
"I am glad the buyout of the six restaurants, which were sold for an undisclosed sum, had gone smoothly and am looking forward to arriving in Sydney on May 8.
“I believe in Australia and I’m invested in it in so many ways. I can’t wait to get over there,” he said.
The six restaurants were put on the market in July 2016 when owner <a href="https://www.urban.com.au/expert-insights/investing/55915-keystone-selling-all-jamie-s-italian-in-one-line" target="_blank">Keystone Hospitality Group was placed into receivership</a>.
 
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Celebrity chef Jamie Oliver buys back restaurants from Keystone Hospitality Group

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The home of Sydney’s Rockpool Bar &amp; Grill and Spice Temple, 66 Hunter Street is about to come to the market.  
Set within the City Mutual Trust building, the 2,019 sqm space holds two restaurants.
“66 Hunter street comes with long term leases to Australia’s most awarded chef, Neil Perry, who will continue to operate arguably two of the best restaurants in the country at this wonderful location,” listing agent, Miron Solomons of Colliers International said.
"The asset is located in the heart of Sydney’s financial district, and with such a highly regarded, long term and stable tenant in place it will always be highly sought after by a local and international investors. 
The property is being sold by US based investor, David Doyle who has decided that selling the asset in the current market would free up capital for him to explore future opportunities.
Doyle is Perry's business partner.
The international expressions of interest campaign closes March 2 with $30 million plus tipped.
It follows the successful sale of Rockpool restaurant Bridge Street <a href="https://www.urban.com.au/expert-insights/investing/47052-bridge-street-rockpool-restaurant-premises-sold" target="_blank">last October for more than $8 million</a>.
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The home of Rockpool Bar & Grill and Spice Temple, 66 Hunter Street on market

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The 100 diner East Brunswick premises of Helenic Republic have been listed for sale.
The initial price guidance was around $1.9 million for the 20 August auction.
It is just the premises for sale as the popular 273 square metre eatery will continue to trade after a newly signed 10-year lease.
The 340 square metre property is at 434 Lygon Street.
It has been listed by Made Establishment through the Killen Thomas agent John Camilleri in conjunction with <a href="https://www.fitzroys.com.au/property/8757/sale/434-lygon-street/brunswick-east-vic-3057/investment-(retail)" target="_blank">Chris Kombi at Fitzroys</a>. 
Hellenic Republic, with its new 10 year plus 5 and 5 year lease, is offered returning $120,000 per annum plus outgoings and GST 
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It comes with a wide corner frontage of about 10 metres to Lygon Street and 35 metres to Stewart Street 
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Made Establishment is jointly owned by celebrity chef George Calombaris, restaurant entrepreneur George Sykiotis, and steel industry barons Joe Calleja and Tony Lachimea.
The property traded at $824,000 in late 2007 when bought by George C Pty Ltd and Cerberos Pty Ltd.
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George Calombaris' Hellenic Republic, Brunswick East premises for sale

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The chef Matt Moran has announced he will open a three-storey restaurant in the harbour-front Barangaroo precinct.
Lend Lease unveiled plans for the restaurant, which will be Moran's seventh Sydney restaurant.
Moran will work with his business partner Peter Sullivan from MorSul and Bruce Solomon and Anna Solomon from Solotel.
“I am not going to do anything I have done before at Barangaroo,” Moran said.
The restaurant, due to open in March 2016 at the southern end near King Street Wharf, will be 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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“When we were first approached by Lend Lease about joining the precinct, it was the location of the site which was key in our decision making," Matt Moran said.
"We intend to deliver a truly Australian experience at this world-class waterfront venue. Whether you are looking for a casual bar and restaurant, a more premium restaurant or a rooftop garden bar, we will have it all with our offering at Barangaroo and use only the best locally sourced produce to create a showpiece of Sydney dining,” said Matt. 
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Matt Moran bowls up Barangaroo South eat street restaurant 

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The British celebrity chef Jamie Oliver seems set to open Jamie's Trattoria in Parramatta.
Oliver's first Italian Australian restaurant <a href="/expert-insights/investing/14250-jamie-oliver-joins-sydneys-restaurant-elite" target="_blank">opened in Sydney's CBD in 2011</a>, with others following in Perth, Canberra, Brisbane and Adelaide.
The Pacific Restaurant Group, which holds the franchise for the Oliver restaurant brand in Australia and New Zealand, plans to spend up to $1.4 million fitting out the former bridal store site as a 200 seat restaurant.
Parramatta Council is revamping the mall, renaming the area Bicentennial Square.
It was the premises of the Park Avenue bridal boutique that left hundreds of brides-to-be stranded when it collapsed in August 2013.
<a href="https://www.realcommercial.com.au/property-retail-nsw-parramatta-500892087" target="_blank">The 83 Macquarie Street premises</a>, identified by the foodie syndicate in late 2013, were recently indicated as leased.
The space is on the south-west corner of Church Street and Macquarie Street.
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Jamie Oliver set for new Parramatta restaurant

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The Crazy Lobster Restaurant and Cafe has secured a five-year lease at 191 Darling Street, Balmain, Sydney.
It was at a gross annual rent of $105,600 through Ray White’s Tim Morrison.
The property is a 94-square-metre restaurant in a sandstone building on Darling Street that sits 60 plus people. 
Morrison said Crazy Lobster head chef and restaurateur Sasha Alexander currently operated a number of other restaurants in the area.
“Mr Alexander felt there was a gap in Balmain’s restaurant market for a unique menu offering a fusion of cuisines,” he said.
“Crazy Lobster’s menu will comprise a mixture of rustic Italian and French inspired breakfasts as well as handmade pasta and seafood for lunch and dinner.”
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Crazy Lobster leases in Balmain

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The 100 diner East Brunswick premises of Hellenic Republic has been sold for $2,375,000.
The initial price guidance was around $1.9 million for the recent auction.
There were five interested parties for the 340 square metre property at 434 Lygon Street.
It has been listed by Made Establishment through the Killen Thomas agent John Camilleri in conjunction with <a href="https://www.fitzroys.com.au/property/8757/sale/434-lygon-street/brunswick-east-vic-3057/investment-(retail)" target="_blank">Chris Kombi at Fitzroys</a>. 
It is just the premises that sold as the popular 273 square metre eatery will continue to trade after a newly signed 10-year lease.
Hellenic Republic, with its new 10 year plus five and five year lease, was offered returning $120,000 per annum plus outgoings and GST.
Made Establishment is jointly owned by celebrity chef George Calombaris, restaurant entrepreneur George Sykiotis, and steel industry barons Joe Calleja and Tony Lachimea.
The property traded at $824,000 in late 2007 when bought by George C Pty Ltd and Cerberos Pty Ltd.
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Hellenic Republic premises sold by George Calombaris syndicate

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A three storey Victorian-era building at 105 Little Bourke Street fetched $3.5 million, at a record 2.6% yield for Melbourne's Chinatown.
It was a Chinatown record of $16,338 a square metre through CBRE.
A mainland Chinese investor purchased <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-501210659" target="_blank">the property</a> which has been occupied by a Japanese restaurant.
There were 18 contracts issued to potential buyers in the tender for the 118 square metre offering.
<img src="/images/2014/08/27/melbourne-aug-27-two.jpg" alt="">
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Record Melbourne Chinatown sale to mainland Chinese buyer

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Dan Hunter’s new three hats restaurant,<a href="https://braerestaurant.com/"> </a>Brae, at <a href="https://www.urban.com.au/property-observer" target="_blank">Birregurra</a>, some 90 minutes south-west of Melbourne, has been named The Age Good Food Guide restaurant of the year.
It is only the third time the award has gone to a restaurant outside of Melbourne.
Brae was also named best new and best regional restaurant in the Gourmet Traveller awards last week.
<img src="/images/2014/08/29/brae_0004_BraeRestaurant%205.jpg.jpg" alt="">
Chef Dan Hunter and his wife, Julianne established the $180 set price multi-course menu less than a year ago.
Drawing many of its ingredients from the surrounding gardens and local farms, The Age Good Food Guide co-editor Janne Apelgren said Brae was “a benchmark in contemporary fine dining”.
As for "the Brae Effect" what is very obvious is the surge in new B&amp;B's as without doubt the restaurant has created huge demand for short-stay accommodation. 
That means the 15 or so staff at the restaurant have found local accommodation challenging - some renting in nearby towns like Winchelsea and Colac.
<img src="/images/2014/08/29/brae_0002_BraeRestaurant%203.jpg.jpg" alt="">
There have been around 40 property sales since early 2013 at Brae, with prices ranging from $90,000 on Main Street to $1.8 million for an 80 hectare farm on Cape Otway Road. Sales are a bit too erratic to make out an obvious price growth trend.
The restaurant is on a seven hectare holding that sold in May 2013 for $1.05 million to the McCorkell Brown Group, directed by Howard McCorkell and Damien Newton-Brown, who have been building and developing iconic properties together for 15 years.
The property came with the original 1868 cottage, with Corkell and Newton-Brown commissioning James Legge, principal of Six Degrees Architects, to work on the design of the new operation.
Accommodation is currently on the drawing board with Damien Newton-Brown telling Property Observer that he is close to lodging the planning permit application for the accommodation, and if all things go well construction might get underway in early 2015.  
<img src="/images/2014/08/29/brae_0001_BraeRestaurant%202.jpg.jpg" alt="">
Brae was formerly Sunnybrae, the pioneering paddock-to-plate restaurant owned and run by chef George Biron who farmed organically with his partner, Di Garrett, who sold the property.
Tulip in nearby Geelong was named the new regional restaurant of the year.
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2015 marks the 35 edition of The Age Good Food Guide which is on sale for $24.99.
Photos: <a href="https://www.colinpage.com.au/#See" target="_blank">Chris Page</a>. Source: Supplied. 
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